Categories Earnings, Industrials

CSX Corp (NASDAQ: CSX): Q4 2019 Earnings Snapshot

— CSX Corporation (NASDAQ: CSX) reported its fourth-quarter 2019 earnings of $0.99 per share versus $0.97 per share expected.

— Revenue fell by 8% to $2.89 billion versus $2.92 billion expected. This was due to lower volumes and negative mix from coal market headwinds.

CSX Corporation (CSX) Q4 2019 Earnings Snapshot

— Expenses decreased by 9% year-over-year to $1.73 billion, driven by continued efficiency gains and volume-related savings.

— Domestic coal volume declined by 14% due to lower shipments of utility coal as a result of continued competition from natural gas.

— Export coal fell by 20% due to lower international shipments of both thermal and metallurgical coal as global benchmark prices declined.

— The operating performance continued to improve in the fourth quarter, with train velocity increasing 12% and car dwell decreasing 9%, both to all-time record levels.

— Looking ahead into the full year 2020, the company expects revenue to be flat to down 2%. The company expects an operating ratio of 59%.

— Capital expenditures are anticipated to be in the range of $1.6 billion to $1.7 billion for the full year. The company continues to return capital to shareholders in 2020.

We’re on Apple News! Follow us to receive the latest stock market, earnings, and financial news at your fingertips

Most Popular

KR Earnings: Kroger Q3 sales, profit increase and top expectations

Department store chain The Kroger Co. (NYSE: KR) on Thursday said its third-quarter sales and adjusted earnings increased year-over-year. The latest numbers also exceeded the market's expectations. Net earnings attributable to

CrowdStrike: Why this cybersecurity stock is a good investment for 2023

CrowdStrike Holdings, Inc. (NASDAQ: CRWD) has steadily expanded its subscriber base over the years, riding the ever-growing demand for cybersecurity solutions. As digital adoption continues -- which accelerated after the

CRM Results: Salesforce Q3 earnings beat; revenues rise 14%

Customer relationship management platform Salesforce, Inc. (NYSE: CRM) on Wednesday reported an increase in third-quarter adjusted earnings, aided by double-digit growth in revenues. The numbers surpassed analysts' predictions. Third-quarter profit,

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top