CSX Earnings: The Streak is Broken

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.

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CSX Corporation Earnings Cheat Sheet

Results: Net income for CSX Corporation fell to $455 million (44 cents per share) vs. $464 million (43 cents per share) a year earlier. This is a decline of 1.9% from the year-earlier quarter.

Actual vs. Wall St. Expectations: CSX Corporation fell short of the mean analyst estimate of 47 cents per share.

Quoting Management: “CSX continues to respond well to moderating economic conditions and challenges in our domestic coal business,” said Michael J. Ward, chairman, president and chief executive officer. “The company is driving strong safety, customer service and productivity results while building its capabilities for the long term.”

Key Stats:

Last quarter’s profit decreases breaks a four-quarter run of profit increases. In the second quarter, net income rose 1.2% from the year earlier, while the figure increased 13.7% in the first quarter, 6.3% in the fourth quarter of the last fiscal year and 12.1% in the third quarter of the last fiscal year.

After beating analyst estimates for the two previous quarters, the company fell short of forecasts. In the second quarter, it topped the mark by 2 cents, and in the first quarter, it was ahead by 5 cents.

Looking Forward: Expectations for the company’s next-quarter performance are higher than they were ninety days ago. Over the past three months, the average estimate for the fourth quarter has risen to 47 cents per share from 46 cents. For the fiscal year, the average estimate has moved up from $1.82 a share to $1.85 over the last ninety days.

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(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)

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