CSX Expects “More Modest” Earnings Growth Due to Weather
Freight railroad CSX Corp. said its first-quarter and full-year 2014 earnings will be lower than previously expected because of severe weather early in the year.
“The severe weather has challenged CSX operations and volume, with the impact on first-quarter earnings now expected to approach 10 cents per share,” Chief Financial Officer Fredrik Eliasson said March 12, according to a company statement.
CSX still expects full-year 2014 earnings growth, though at a “more modest” rate than previously expected.
The profit growth, which CSX predicted will be at least 10%, will be driven by merchandise, intermodal and coal, the company said.
