CSX profit falls as coal, automotive declines weigh on results

This post was originally published on this site

The company, considered one of the most efficient U.S. railroads, also said profit fell less than expected in the latest quarter as cost controls helped offset revenue declines from shipments of coal, cars and other products.

Net income was $770 million, or $1.00 per share, for the first quarter, down from $834 million, or $1.02 per share, a year earlier. Analysts had expected a 94-cent per-share profit in the latest quarter, according to Refinitiv IBES data.

Revenue for the first quarter fell 5% to $2.86 billion.