CSX posts 46% surge in profit

SAN FRANCISCO (MarketWatch) — CSX Corp. on Tuesday reported a first-quarter profit of $351 million, or 85 cents a share, up from $240 million, or 52 cents a share, a year earlier. The Jacksonville, Fla.-based railroad posted revenue of $2.7 billion, up 12% from the same quarter last year. Analysts polled by FactSet Research were looking for a profit, on average, of 71 cents a share with sales of $2.6 billion. The company said it overcame housing and auto sector woes through “yield management, fuel recovery and market drivers including growth in ethanol and grain shipments, increased demand for export coal, and a stable industrial economy.”

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Original post by Forextvblog

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