CSX Reports Higher 4Q Profit
CSX Corp.’s fourth-quarter profit rose 6% as higher rates offset a decline in volume, the freight railroad said.
Net income rose to $457 million, or 43 cents per share, from $430 million, or 38 cents, a year ago. CSX said late Monday. Revenue rose 4.8% to $2.95 billion.
Intermodal volume fell 5.2% in the quarter, although it came was flat excluding an extra week the previous year.
For the year, CSX earned $1.82 billion, or $1.67 per share, up from $1.56 billion, or $1.35, the previous year.
Full-year operating income rose 11% to $3.4 billion and revenue rose 10% to $11.7 billion.
