CSX announces record third quarter results

CSX reported a record third quarter for the company with third quarter net earnings of $464m versus $414m in the same period last year.

"Even as the economy moderated, CSX delivered strong financial results while investing in additional resources to strengthen customer service," said Michael J. Ward, chairman, president and chief executive officer. "This helped position our business, our customers and our communities for growth in the near- and long-term."

Revenue in the quarter improved 11% from the prior year to nearly $3bn, with increases across all of the company’s major markets. The higher revenue, coupled with the company’s ongoing focus on profitable growth, increased operating income to a third quarter record of $878m and produced an operating ratio of 70.4%.

At the same time, the company expects to achieve its target of a 65% operating ratio by no later than 2015.

Quelle: eyefortransport
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