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CSX First Recipient of Loop Capital s Bill Thompson Award
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CSX railroad profit falls 24% as it delivered 2% fewer shipments in the third quarter
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CSX reports lower earnings but says improved service will lead to growth
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CSX boss wants railroad to keep improving service as pr
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CSX reported a 24% drop in the railroad's third-quarter profit Thursday as it hauled 2% less freight. The railroad said it earned $846 million, or 42 cents per share in the quarter. That was just short of what Wall Street expected. The railroad's results showed mixed demand across the various industries it serves. A strong 19% jump in auto shipments and 9% growth in coal wasn't enough to offset weak demand for imported consumer products and agricultural shipments. CSX said its average train speed hit 17.6 mph in the quarter to show that its network is running smoothly.