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CSX revenue misses estimates on disruptions from turnaround plan [Reuters]

CSX (CSX)  More Company Research Source: Reuters
Last csx earnings: 4/17 04:02 pm Check Earnings Report
US:NYSE Investor Relations: csx.com/index.cfm/investors/news-releases
PDF CSX revenue misses estimates on disruptions from turnaround plan | Reuters 3 Min Read (Reuters) - CSX Corp ( CSX.O ) reported a bigger-than-expected drop in fourth-quarter revenue on Tuesday as the third-largest U.S. railroad lost some business due to service issues caused by former chief executive Hunter Harrison’s turnaround plan. Harrison, a veteran railroader cherished by investors for leading turnarounds of Canadian railroads, died in December, just eight months into his restructuring campaign at CSX that includes a strategy to run trains on tight schedules rather than on customer needs. Investors have been searching for clarity on how new CEO Jim Foote will handle the turnaround plan that also includes deep job cuts and rail yard closures and has triggered persistent service disruptions, customer complaints and federal scrutiny. “I see no reason to believe we can’t deliver the results that Hunter thought we could,” Foote said on a post-earnings call. Foote said he did not expe [Read more]

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