CSX Earnings Cheat Sheet: Fifth Consecutive Quarter of Double-Digit Growth

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

Investing Insights: Amazon.com has a Stock Chart Technical Analysts Dream About.

CSX Earnings Cheat Sheet for the Third Quarter

Results: Net income for CSX Corporation rose to $464 million (43 cents per share) vs. $414 million (36 cents per share) in the same quarter a year earlier. This marks a rise of 12.1% from the year earlier quarter.

Revenue: Rose 11.1% to $2.96 billion from the year earlier quarter.

Actual vs. Wall St. Expectations: CSX fell short of the mean analyst estimate of 44 cents per share. Analysts were expecting revenue of $2.98 billion.

Quoting Management: “Even as the economy moderated, CSX delivered strong financial results while investing in additional resources to strengthen customer service,” said Michael J. Ward, chairman, president and chief executive officer. “This helped position our business, our customers and our communities for growth in the near- and long-term.”

Key Stats:

The company has enjoyed double-digit year-over-year percentage revenue growth for the past five quarters. Over that span, the company has averaged growth of 15%, with the biggest boost coming in the fourth quarter of the last fiscal year when revenue rose 21.4% from the year earlier quarter.

The company has now seen net income rise in three straight quarters. In the second quarter, net income rose 22.2% and in the first quarter, the figure rose 29.1%.

The company fell short of estimates last quarter after beating the mark the quarter before with net income of 46 cents versus a mean estimate of net income of 44 cents per share.

Looking Forward: Over the past sixty days, the outlook for the company’s performance next quarter has become increasingly unfavorable. The average estimate for the fourth quarter is 46 cents per share, a drop from 47 cents. Over the past sixty days, the average estimate for the fiscal year has reached $1.70 abs per share, a decline from $1.74.

Competitors to Watch: Norfolk Southern Corp. (NYSE:NSC), Union Pacific Corporation (NYSE:UNP), Kansas City Southern (NYSE:KSU), Genesee & Wyoming Inc. (NYSE:GWR), Providence & Worcester Railroad Co. (NASDAQ:PWX), Burlington Northern Santa Fe, LLC (BNI), Canadian National Railway (NYSE:CNI), Canadian Pacific Railway Ltd. (NYSE:CP), and Pioneer Railcorp (PRRR).

Investing Insights: Amazon.com has a Stock Chart Technical Analysts Dream About.

(Source: Xignite Financials)