CSX Corp. (NASDAQ: CSX), a rail-based freight transportation company, on Thursday reported higher revenues and net profit for the first quarter of 2023.
The company reported revenue of $3.71 billion for the first quarter, up 9% year-over-year. Reflecting the positive top-line performance, net earnings rose to $987 million or $0.48 per share from $859 million, or $0.39 per share, in the first quarter of 2022.
“Our ONE CSX initiatives are driving positive engagement among our employees and customers, which is lifting our service performance and providing us with exciting opportunities to win business and move more freight while maintaining our fundamental commitment to safe operations,” said Joe Hinrichs, the company’s chief executive officer.