CSX Q3 freight rail growth in line with projections

By Freddie Pierce
With the largest freight rail networks on the East Coast, CSX Transportation was expected to grow with a slowly recovering United States economy. The c...

With the largest freight rail networks on the East Coast, CSX Transportation was expected to grow with a slowly recovering United States economy. The company reported third-quarter earnings that included a 12 percent gain, with revenue growing to $2.96 billion.

Net profit grew from $414 million one year ago to $464 million, which was also in line with analyst projections.

Despite the modest numbers, shipping volumes were unchanged for CSX, which doesn’t lend itself well to an economic turnaround.

“The leading indicators do not point to significant growth (in the U.S. economy),” RBC Capital Markets analyst Walter Spracklin told Bloomberg. “But they also do not point to declines, so this is consistent with that view.”

SEE OTHER TOP FREIGHT RAIL STORIES IN THE SUPPLY CHAIN DIGITAL CONTENT NETWORK

Union Pacific CEO doesn’t expect double-dip recession

U.S. freight rail figures point toward continued growth

Check out October’s issue of Supply Chain Digital!

According to a company statement, total shipments increased less than one percent in the third quarter. CSX also doesn’t see a holiday season shipping boom, projecting a “more moderate peak shipping season this year.”

Based in Jacksonville, CSX Transportation operates three Class I railroads in the eastern half of the U.S. Those freight lines include CSX Railroad, Norfolk Southern Railway and Canadian Pacific Railway.

The company’s two regions define five territories each. The Northern Region includes the Great Lakes, Chicago, Albany, Baltimore and Louisville divisions, while the Southern Region handles Atlanta, Huntington, Nashville, Florence and Jacksonville freight shipments.

Click here to download Supply Chain Digital’s iPad app!

Share

Featured Articles

UST webinar on managing supply risk available on-demand

Global CPO David Loseby and UST's Jonathan Colehower share insight on using technology, both to mitigate supply chain risk and to gain supply visibility

Global land, sea and air logistics news round-up

Global logistics IoT spend ‘will top $32bn by 2032’; UN $10mn grant for explosion-hit Port of Beirut; Costa Rica ransomware attack causes ports chaos

Comfort zones the enemy of sustainability - CIPS economist

Cranfield economist John Glen tells procurement & supply managers that comfortable routines and relationships are unlikely to deliver sustainability goals

Women in supply fare better in large firms - Gartner report

Digital Supply Chain

What can be done to avert food catastrophe foreseen by UN?

Logistics

UST's Colehower shares supply risk insights in webinar today

Supply Chain Risk Management