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.
Edmunds: Avoid these 3 mistakes when buying a used car sight unseen
Feud: Capote vs The Swans review
Katie Couric tells Bill Maher that Trump support is born out of 'anti
Days Of Our Lives sees THREE old faces from the 1980s RETURN
9 facing charges in what Canada police say is biggest gold theft in country's history
Sydney shopping mall reopens after stabbings. Police make first arrest in riot after church attack
Ukraine welcomes fresh military aid from EU
Dodgers legend Carl Erskine dies at 97... the last surviving member of Brooklyn's 'Boys Of Summer'
Arakan Army attacks another junta border outpost in western Myanmar — Radio Free Asia
Rachel Zegler and Kit Connor are confirmed to make Broadway debuts in Romeo + Juliet
OJ Simpson was chilling with a beer on a couch before Easter, lawyer says
Russian air defense forces neutralize over 30,000 Ukrainian aerial weapons