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1/13/2009
Rail News: Rail Industry Trends
Revenue and income climb in fourth quarter, CSX projects
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They might be preliminary, but the fourth-quarter financial results released by CSX Corp. yesterday are definitive in one respect: encouraging, in light of the recession and a charge associated with The Greenbrier resort in White Sulphur Springs, W.Va.
The Class I projects earnings per share at 63 cents, including a charge of 27 cents per share to write-down an investment in the resort. Excluding the charge and insurance gains of 1 cent in fourth-quarter 2007, earnings per share would total 90 cents, representing a 6 percent year-over-year increase, CSX said.
Preliminary data also shows overall revenue totaled $2.7 billion, up 4 percent, and operating income reached $692 million, up 16 percent compared with fourth-quarter 2007 totals. The projections would place CSX’s operating ratio at 74.1 vs. a 76.4 ratio in fourth-quarter 2007.
"Our team's commitment helped CSX weather the difficult economic environment, which continues to impact our business," said Chairman, President and Chief Executive Officer Michael Ward in a prepared statement.
CSX will report fourth-quarter results during an earnings conference to be held Jan. 21 at 8:30 a.m. (EST).
The Class I projects earnings per share at 63 cents, including a charge of 27 cents per share to write-down an investment in the resort. Excluding the charge and insurance gains of 1 cent in fourth-quarter 2007, earnings per share would total 90 cents, representing a 6 percent year-over-year increase, CSX said.
Preliminary data also shows overall revenue totaled $2.7 billion, up 4 percent, and operating income reached $692 million, up 16 percent compared with fourth-quarter 2007 totals. The projections would place CSX’s operating ratio at 74.1 vs. a 76.4 ratio in fourth-quarter 2007.
"Our team's commitment helped CSX weather the difficult economic environment, which continues to impact our business," said Chairman, President and Chief Executive Officer Michael Ward in a prepared statement.
CSX will report fourth-quarter results during an earnings conference to be held Jan. 21 at 8:30 a.m. (EST).