CSX delivers 25% jump in profit as it hauls more goods, cuts expenses
The Associated Press CSX railroad’s profit jumped 25% in the first quarter as the railroad hauled 3% more shipments and cut its expenses. The Jacksonville, Florida-based railroad said Thursday that it earned $807 million, or $0.43 per share, as it continued to improve efficiency. That’s up from $646 million, or $0.34 per share, a year ago. CSX easily topped the expectations of the analysts surveyed by FactSet Research who predicted earnings per share of 39 cents. The railroad said it cut expenses by 6% to $2.2 billion in the quarter as CEO Steve Angel, who took over last ...