CSX announces record 3Q profit
CSX Corporation (NYSE: CSX) announced a record third-quarter profit of $509 million Tuesday as it transported more freight thanks to high demand in the market.
The Florida –based transportation company with a hub in Worcester generated revenue of $3.2 billion, an 8 percent increase over the same period last year. Net earnings were $509 million, or 51 cents per share, up from net earnings of $455 million, or 45 cents per share, during the same period last year.
“As the economy continues to expand, the company’s record third-quarter results are built on the foundation of CSX’s network reach, sustainable growth opportunities, and the efforts of our 31,000 employees,” Michael J. Ward, president, chairman and CEO of CSX, said in a statement.
CSX produced operating income of $976 million and an operating ratio of 69.7 percent in the third quarter.
The company expects to sustain double-digit earnings growth and margin expansion in 2015.
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