CSX Reports Higher Third-Quarter Profit

CSX Corp.’s third-quarter earnings rose to $463 million, or 46 cents a share, from $455 million, or 44 cents, a year ago.

Revenue rose slightly to $3 billion from higher volume and pricing gains in merchandise and intermodal that offset declines in coal revenue, the Jacksonville, Fla.-based freight railroad reported.

According to CSX, its performance was “supported by strong operating results and higher revenues that included benefits from customer contract settlements.”

The company now expects 2013 earnings per share to be slightly up from 2012 levels.

“CSX posted historically high financial results as it continued to effectively manage ongoing challenges in the coal market and leverage growth opportunities in merchandise and intermodal,” CEO Michael Ward said in a statement.