CSX Earnings: Charges Past Wall Street Analyst Expectations
CSX Corp. (NYSE:CSX) generated a profit and beat Wall Street’s expectations, AND beat the revenue expectation. Shares are up 1.25%.
CSX Corp. Earnings Cheat Sheet
Results: Net income decreased -3.06% to $443 million (43 cents per diluted share) in the quarter versus a net gain of $457 million in the year-earlier quarter.
Revenue: Decreased 1.73% to $2.9 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: CSX Corp. reported adjusted net income of 43 cents per share. By that measure, the company beat the mean analyst estimate of $0.39. It beat the average revenue estimate of $2.85 billion.
Quoting Management: “CSX continues to demonstrate the underlying strength of its business model, the ability to respond quickly to significant events in the marketplace, and a steadfast focus on creating substantial shareholder value over the long term,” said Michael J. Ward, chairman, president and chief executive officer…
Revenue increased 0.21% from $2.89 billion in the previous quarter. Net income decreased 2.64% from $455 million in the previous quarter.
Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $0.44 to a profit $0.42. For the current year, the average estimate has moved down from a profit of $1.76 to a profit of $1.74 over the last ninety days.
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(Company fundamentals provided by Xignite Financials.)