CSX Shares Fall Following Lackluster Q4 Report

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January 17, 2017 4:27pm NASDAQ:CSX

From StockNews.com: CSX Corporation (NASDAQ:CSX) late Tuesday posted fourth quarter earnings results that were in-line with expectations, but investors still sold the shares off in aftermarket trading.


The Jacksonville, FL-based railroad operator reported Q4 EPS of $0.49, matching Wall Street’s $0.49 estimate. Revenues rose 2.8% from last year to $2.86 billion, which also equaled analysts’ view of $2.86 billion.

Comparable shipping volume fell 1% in the latest period, hampered by intermodal (-2%) and merchandise (-2%), but helped by coal shipments (+3%).

Revenue per unit rose 4%, led by pricing gains and a better product mix in the fourth quarter. Same-store sales saw price increases among all of CSX’s major markets (coal, merchandise, and intermodal), up 2.8% overall. When excluding coal, same-store sales were up +3.2%.

The company commented via press release:

“In an environment where the company lost almost $470 million of coal revenue and experienced weakness across most of its markets, CSX delivered nearly $430 million of productivity savings in 2016, while improving customer service.”

CSX Corporation shares were trading at $38.02 per share on Tuesday afternoon, down $0.78 (-2.01%). Year-to-date, CSX has gained 5.82%, versus a 1.20% rise in the benchmark S&P 500 index during the same period.

CSX currently has a StockNews.com POWR Rating of A (Strong Buy), and is ranked #3 of 15 stocks in the Railroads category.

This article is brought to you courtesy of StockNews.com.


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