CSX Corporation falls 4% after failing to top EPS estimates for first time in two years
Laser1987
CSX Corporation (NASDAQ:CSX) traded lower in postmarket action on Thursday after the rails company missed estimates on both lines of its Q2 earnings report.
Revenue fell 3% year-over-year to $3.70B as lower fuel prices, reduced supplemental revenue, a decline in export coal benchmark prices, and a decrease in intermodal volumes more than offset the effects of volume growth in coal and merchandise and solid gains in merchandise pricing.
CSX (CSX) reported operating income fell 13% to $1.48B. The operating ratio of 59.9% for the quarter was slightly higher than the consensus estimate of 59.8%. EPS fell 9% from a year ago to $0.49 to miss the consensus mark by a penny. It was the first EPS miss for CSX (CSX) since Q1 of 2021.
Shares of CSX (CSX) were down 4.06% at 4:37 p.m. The stock has been in a gentle uptrend since late March.
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