CSX Corporation Earnings: A Bit Off the Tracks

S&P 500 (NYSE:SPY) component CSX Corporation (NYSE:CSX) reported its results for the first quarter. CSX Corporation provides rail-based transportation services including traditional rail service and the transport of intermodal containers and trailers.

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CSX Earnings Cheat Sheet for the First Quarter

Results: Net income for the railroad company rose to $395 million ($1.06/share) vs. $306 million (78 cents/share) YoY. A rise of 29.1% from the year earlier quarter.

Revenue: Rose 12.8% to $2.81 billion YoY.

Actual vs. Wall St. Expectations: CSX beat the mean analyst estimate of $1.04/share. Estimates ranged from 90 cents per share to $1.14 per share.

Quoting Management: “CSX delivered record financial results and achieved growth across nearly all markets in a growing economy,” said Michael J. Ward, chairman, president and chief executive officer. “We expect these positive trends to continue, allowing CSX to make critical investments and meet the future transportation needs of our customers and the nation.”

Key Stats:
The company has enjoyed double-digit year-over-year revenue growth for the past five quarters. Over that span, the company has averaged growth of 16.7%, with the biggest boost coming in the second quarter of the last fiscal year when revenue rose 21.9% from the year earlier quarter.

The company has now seen net income rise in three-straight quarters. In the fourth quarter of the last fiscal year, net income rose 41% and in the third quarter of the last fiscal year, the figure rose 41.3%.

Competitors to Watch: Canadian National Railway (NYSE:CNI), Canadian Pacific Railway Limited (NYSE:CP), Norfolk Southern Corp (NYSE:NSC), Union Pacific Corporation (NYSE:UNP), Kansas City Southern (NYSE:KSU), Genesee & Wyoming Inc (NYSE:GWR).

Today’s Performance: Shares of CSX are down 0.9% in after hours trading after closing the day at $76.04.

 

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