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

Managing risk 'crucial' - Gartner Supply Chain Symposium

CSCOs hoping to navigate supply chain disruption must understand their organisation's appetite for risk, say analysts at Gartner Supply Chain Symposium

Air cargo resilience is focus of World Cargo Symposium

International Air Transport Association's World Cargo Symposium in London is focusing on using resilience to drive air cargo’s post-pandemic prospects

Sustainability measurements lacking, says EY survey

EY survey of supply chain leaders reveals need both for visibility on sustainability performance and a holistic business case to drive results

IBM CSCO & COO survey shows tech & sustainability key areas

Digital Supply Chain

Suppeco and Market Dojo partner on e-sourcing solution

Digital Supply Chain

Pitney Bowes Index shows China breaks 100bn parcels barrier

Logistics