CSX stock rides higher on stronger-than-anticipated earnings
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CSX Corp. (NASDAQ:CSX) shares gained sharply in Wednesdayâs extended trading session after the railroad operator exceeded expectations for profits and revenue.

For the second quarter, the Florida-based railroad posted 27.8% growth in revenue from the year prior to $3.82B, $150M above expectations, and GAAP EPS of $0.54, coming in $0.06 above consensus. 

The operating ratio increased to 55.4% from an exceptionally low 43.4% in the year prior due to âthe effects of lower real estate gains, the acquisition of Quality Carriers and higher fuel prices.â However, the ratio marked a significant efficiency improvement from the prior quarter when the ratio moved up to 62.4%.

âThough volatile commodity prices and persistent inflation have added uncertainty to the economy, our efforts remain focused on adding the resources needed to deliver improvements in our network performance, lift customer satisfaction and develop new rail service solutions to drive meaningful growth over the long term,â CEO James M. Foote said in a statement on the results.
Shares rose 3.6% in after hours trading on Wednesday. Read more on the details of the quarter.