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Stockreport

CSX profit tops Wall St target on expense controls, shares rise [Reuters]

CSX (CSX)  More Company Research Source: Reuters
Last csx earnings: 7/17 04:02 pm Check Earnings Report
US:NYSE Investor Relations: csx.com/index.cfm/investors/news-releases
PDF CSX profit tops Wall St target on expense controls, shares rise | Reuters Reuters Staff 1 Min Read (Reuters) - CSX Corp ( CSX.O ) on Tuesday posted a second-quarter profit that topped Wall Street’s target after the No. 3 U.S. railroad operator continued to benefit from its drive to slash expenses and boost efficiency. CSX shares rose 2.9 percent to $66.28 in extended trading on Nasdaq. Jacksonville, Florida-based CSX had net income of $877 million, or $1.01 per share, up from $510 million, or 55 cents per share, in the year-earlier quarter that included a restructuring expenses. Analysts, on average, had expected earnings of 87 cents in the latest quarter, according to Thomson Reuters I/B/E/S. Its operating ratio, which measures operating expenses as a percentage of revenue and is a closely watched gauge of railroad performance, came in at 58.6 percent versus 67.4 percent in the year-earlier quarter. Reporting by Lisa Baertlein in Los Angeles; Editing by Richard Chang All quotes de [Read more]

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