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Rail News: CSX Transportation
CSX: Merchandise and intermodal markets to grow, domestic coal volume to drop
At yesterday's JP Morgan Aviation, Transportation and Industries Conference in New York City, CSX Corp. Executive Vice President and Chief Financial Officer Fredrik Eliasson noted that the company expects to see first-quarter increases in merchandise and intermodal business, two markets that continue to grow faster than the overall economy.
But due to low natural gas prices and mild winter conditions, he also anticipates a 5 percent decrease in domestic coal volumes. Additionally, due to low crude-oil prices, CSX may see a more moderate growth in crude shipments than originally expected.
"By leveraging price and efficiency gains combined with expected volume increases, we continue to target double-digit earnings growth for the full-year 2015, though achieving that goal will be more challenging with the expected decline in coal movements," Eliasson said in a press release.
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