CSX Corp. (NASDAQ:CSX) reported its Q3 results with earnings per share (EPS) at $0.42, slightly below the consensus estimate of $0.43.
Revenue fell 8% year-over-year to $3.57 billion, just above the Street estimate of $3.56 billion. The decline in revenue was due to lower fuel prices, reduced intermodal storage revenue, declining export coal benchmark prices, and decreased intermodal volumes, offsetting the positive impact of higher merchandise yields and coal volume growth.
CEO Joe Hinrichs noted the company’s solid merchandise business and strong coal volume growth, expressing optimism about improving trends in key end markets as the year progresses.