Train Freight Giant CSX Reports Record Third Quarter Result

CSX 1012

Photo: Wikimedia Commons

CSX Corporation, the rail and transportation giant, beat Q3 earnings expectations.The company reported earnings of $414 million or $1.08 per share versus expectations of $1.04 per share.

Profit was up 43% and earnings per share was up 48% as the company continued its $3 billion stock repurchase program. Chairman, president and chief executive officer Michael J. Ward reported volume growth in “nearly all markets.”

The company did not immediately report a forecast for future earnings. The stock is up about 2% after hours on the news.

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