CSX’s First-Quarter Income Rises 22%
Eastern freight railroad CSX Corp. said its first-quarter net income earnings-per-share jumped 22% from a year ago.
Net income rose to $306 million, or 78 cents a share, from $246 million, or 62 cents, a year ago, CSX said late Tuesday. Revenue rose 11% to $2.49 billion.
Freight carloads rose 5%, led by a 64% jump in automotive shipments, the Associated Press reported. Commodity shipments such as chemicals and metals also improved.
Intermodal revenue rose to $323 million, from $270 million a year ago, while intermodal operating income increased to $39 million, from $24 million.
CSX operates in the eastern United States and parts of Canada.
