Railroader CSX will report second quarter results after the closing bell.Analysts polled by Bloomberg forecast revenue results improved less than 1 per cent to $3.04 billion, as net income advances a penny to $0.47.
CSX’s footprint between the Atlantic seaboard and Mississippi river offers a key gauge of the regional economy.
“Overall freight demand was sluggish during the quarter: weak coal and ag weighed on rail carloads (+1% y/y),” Chris Cerano of Credit Suisse says.
Investors have also been waiting for commentary from CSX after Patriot Coal listed it as its sixth largest creditor when filing for bankruptcy earlier this month.
However, we’ll be interested to hear about what they’re seeing on the ground in terms of the overall health of the U.S.
CSX transports a wide array of agricultural goods, industrial products, and construction materials.
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