Progressive Railroading


Newsletter Sign Up
Stay updated on news, articles and information for the rail industry

All fields are required.

Rail News Home CSX Transportation


Rail News: CSX Transportation

CSX expects Q4 EPS to be 'flat, slightly up'

CFO Frank Lonegro provided a Q4 update to analysts and investors.
Photo – CSX Corp.

CSX Corp.'s fourth-quarter earnings per share are expected to be "flat to slightly up," Executive Vice President and Chief Financial Officer Frank Lonegro told investors and analysts at a conference this morning.

Macroeconomic headwinds that impact the Class I's volume are moderating, Lonegro said at the Credit Suisse 4th Annual Industrials Conference.

"At the same time, a recent operating property sale will now offset the impact of a debt refinancing charge announced earlier in the quarter," he added, according to a press release of his comments.

Quarter-to-date volume has declined 3 percent overall, and many markets are showing more moderate declines than in previous quarters. In particular, coal is showing sequential volume stabilization and is essentially flat to date, he said.

Volume is now expected to decline in the low-to-mid single digit range on a comparable 13-week basis, and expected to be flat to slightly up including the extra week that is part of CSX's 2016 accounting year.

Contact Progressive Railroading editorial staff.

More News from 11/30/2016