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CSX posts 6% Q4 revenue drop as shipments fall [Business News Network (BNN) Energy & Resources (Canada)]

CSX (CSX)  More Company Research Source: Business News Network
Last csx earnings: 4/17 04:02 pm Check Earnings Report
US:NYSE Investor Relations: csx.com/index.cfm/investors/news-releases
PDF CSX posts 6% Q4 revenue drop as shipments fall CSX Corp reported lower-than-expected revenue for the fourth quarter due to a drop in shipments, but beat Wall Street's earnings targets on better prices and cost controls, capping a tumultuous year for the third-largest U.S. railroad operator. Hunter Harrison, CSX's former chief executive and a veteran railroader cherished by investors for leading turnarounds of Canadian railroads, died in December, just eight months into his restructuring campaign at CSX. Investors have been searching for clarity on how new CEO Jim Foote will handle Harrison's turnaround plan that includes deep job cuts and rail yard closures and triggered persistent service disruptions, customer complaints and federal scrutiny. "CSX's performance continued to strengthen in the fourth quarter, building upon the scheduled railroading model that was instituted by Hunter Harrison," Foote said in a statement. The company's stock, which hit a record high in regular trading, [Read more]

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