CSX stock boosted by narrow earnings beat
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CSX Corporation (NASDAQ:CSX) stock rebounded in Wednesdayâs extended session after the railroad posted a narrow beat on earnings expectations.

For the fourth quarter, the operator notched $0.49 in GAAP EPS, $0.02 above the analyst consensus. Meanwhile, $3.73B in revenue edged expectations by $10M amid higher fuel surcharge, pricing gains, and an increase in storage and other revenues. The latter figure was partially offset by inclement weather into the year-end.

The Florida-based railroadâs operator reported an operating ratio of 60.9%, 0.2% above the estimate.

âThe ONE CSX team made great progress this quarter, delivering strong earnings as our network performance continued to gain momentum,â CEO Joe Hinrichs said. âWith the right resources now coming into place, we can turn our full attention to the opportunities ahead in 2023 and beyond.â

Management expects âsolid merchandise and coal growthâ and efficiency gains for the full-year to help offset ânear-term headwinds facing international Intermodal.â The company expects asset productivity to âexceed or approach prior record levelsâ while customer service gains drive capacity.

Shares of CSX Corp. (CSX) rose 1.61%, battling back from a 2.54% decline in Wednesdayâs daily session.
Dig into the details of the results.