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UPDATE 1-CSX profit tops Wall St target on expense controls, shares rise [Reuters]

CSX Corp (CSX)  More Company Research Source: Reuters
Last csx corp earnings: 10/16 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 2 Min Read (Reuters) - CSX Corp ( CSX.O ) on Tuesday posted quarterly profit that topped Wall Street’s target after the No. 3 U.S. railroad operator continued to benefit from its drive to cut costs and boost efficiency. CSX shares jumped 3.2 percent to $66.49 in extended trading after the company also raised its 2018 revenue forecast, citing strength in its coal business. Second-quarter net income rose to $877 million, or $1.01 per share, from $510 million, or 55 cents per share, in the year-ago period that included a $115 million restructuring expense. Analysts, on average, had expected earnings of 87 cents in the latest quarter, according to Thomson Reuters I/B/E/S. Jacksonville, Florida-based CSX spent 36 percent more on fuel in the latest quarter, but costs fell due to job cuts and other expense controls. Revenue for the second quarter grew 6 percent over the prior year to $3.1 billion. Tota [Read more]

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