CSX dealt with weather challenges and the closure of the Baltimore port as the railroad saw its first-quarter profit slip 10%, but it still managed to keep most of its customers happy with reliable service.
The Jacksonville, Florida-based railroad said Wednesday that it earned $893 million, or 46 cents per share, in the first three months of the year as it handled 3% more freight. That’s down from $987 million, or 48 cents per share, a year ago.
The results were slightly better than Wall Street predicted. The analysts surveyed by FactSet Research expected CSX to report earnings per share of 45 cents.
CEO Joe Hinrichs said he was reminded again of one of the key lessons he’s learned in his first 18 months on the railroad: “There never really is an easy quarter.”
Hinrichs said he was pleased the railroad was able to deliver consistent customer service that helped it attract more business. He said many of the markets CSX serves are seeing “favorable trends” and more customers are willing to give the railroad more of their business because CSX has delivered better service consistently.
Gisele Bundchen shows off her figure in a tied
Moscow attack: Russian court charges four men with act of terrorism
Seagulls 'charismatic' not 'criminal', scientists say
Woman's death after electric blanket fire triggers warning from Coroner
Valerie Bertinelli, 63, gushes over her 10
What is going on with P Diddy?
Dunedin council takes Aurora Energy proposal public
HK records 1st virus death, toll over 420
USDA and China CCP lab are creating deadly BIRD FLU viruses as part of $1m collaboration
Major sewerage line threatened by slip on Hutt River cliff
9 facing charges in what Canada police say is biggest gold theft in country's history
Opportunities Party leader Raf Manji resigns