CSX Announces Second Quarter Earnings

JACKSONVILLE, Fla. — CSX Corp. announced second quarter earnings from continuing operations of $414 million, or $1.07 per share, versus $282 million, or $0.71 per share, in the same period last year. This represents a 51 percent year-over-year improvement in earnings per share from continuing operations.

“While the economy remains dynamic, our markets overall continue to improve, and our outlook remains positive,” said Michael J. Ward, chairman, president and chief executive officer. “At the same time, CSX has demonstrated that it can be successful in a wide array of economic conditions, and that’s what we will continue to do.”

Revenue in the second quarter increased 22 percent from the prior year to nearly $2.7 billion, with volume gains across all major markets. Revenue growth and continued operating leverage drove all-time record financial results, including operating income of $768 million and an operating ratio of 71.2 percent.

“CSX employees remained focused on creating value for our customers to help them compete in today’s economy,” Ward said. “As a result, we delivered another strong quarter of financial results for our shareholders while continuing to make high levels of investment in the nation’s freight rail system.”