CSX Company CSX shares are buying and selling decrease in Thursday’s after-hours session following the corporate’s third-quarter earnings. Here is a abstract.
What To Know: CSX reported quarterly earnings of 42 cents per share, which met the analyst consensus estimate, a 19.23% lower over 52 cents per share from final 12 months.
The corporate reported quarterly gross sales of $3.57 billion, which beat the analyst consensus estimate of $3.55 billion, an 8.34% lower over gross sales of $3.90 billion in the identical interval final 12 months.
The impacts of decrease gas costs, lowered intermodal storage income, a decline in export coal benchmark costs, and a lower in intermodal volumes greater than offset the results of upper merchandise yields and coal quantity progress.
CSX ended the quarter with $1.36 billion in money and equivalents, down by $598 million from final 12 months.
Complete quantity transported within the third quarter fell by 2% year-over-year to 1.55 million items. Income per unit fell by 6% to $2,305. Agricultural and Meals Merchandise quantity fell by 10% to 108 thousand items.
“Our merchandise enterprise remained stable, and our coal operations delivered robust quantity progress. As we strategy year-end, we’re happy with the cohesive tradition taking form throughout our ONE CSX workforce that’s serving to to drive optimistic enterprise outcomes, and we’re inspired to see enhancing sequential traits in a few of our key finish markets,” stated Joe Hinrichs, president and CEO.
Associated Hyperlink: Why Utilized Supplies Inventory Is Buying and selling Down Immediately
CSX Value Motion: Shares of CSX had been down 0.13% at $30.50 within the after-hours session on the time of publication, in keeping with Benzinga Professional.
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