CSX Reports Higher Second-Quarter Income
Eastern freight railroad CSX Corp. said its second-quarter net income rose 19% to $385 million, or 93 cents a share, from $324 million, or 71 cents, a year ago.
Revenue rose 15% to $2.9 billion, the company said late Tuesday.
Diesel expenses rose 70% in the quarter, the company said, but rate increases are helping railroads overcome record fuel prices and overall economic weakness that is hurting demand, Bloomberg reported.
CSX was the first of the four major U.S. freight rail lines to report its quarterly earnings.
