CSX Earnings Cheat Sheet: Profit Rises by Double-Figures for Fifth Consecutive Quarter

S&P 500 (NYSE:SPY) component CSX Corporation (NYSE:CSX) reported its results for the second 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 Second Quarter

Results: Net income for CSX Corporation rose to $506 million (46 cents per share) vs. $414 million (36 cents per share) in the same quarter a year earlier. This marks a rise of 22.2% from the year earlier quarter.

Revenue: Rose 13.4% to $3.02 billion from the year earlier quarter.

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

Quoting Management: “As our markets continue to expand, CSX is delivering outstanding results for shareholders,” said Michael J. Ward, chairman, president and chief executive officer. “At the same time, we are taking a number of actions to position the operations for greater customer demand, now and over the 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 17.2%, 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 first quarter, net income rose 29.1% and in the fourth quarter of the last fiscal year, the figure rose 41%.

The company beat estimates last quarter after being in line with expectations in the first quarter with net income of 35 cents per share.

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).

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(Source: Xignite Financials)