CSX Shares Up 3% on Q2 Earnings Beat
2022.07.21 00:50
CSX (CSX) Shares Up 3% on Q2 Earnings Beat
By Davit Kirakosyan
CSX Corp. (NASDAQ:CSX) shares were trading more than 3% higher after-hours after the rail company reported Q2 results, with EPS of $0.54 coming in better than the consensus estimate of $0.47.
Revenue grew 28% year-over-year to $3.82 billion (vs. the consensus estimate of $3.65 billion) due to higher revenue in nearly all markets driven by pricing gains, fuel surcharge, and the addition of Quality Carriers.
“I am very proud of CSX’s entire team of employees, which now includes Pan Am railroaders, for their hard work and dedication over this quarter,” said James M. Foote, president and chief executive officer. “Though volatile commodity prices and persistent inflation have added uncertainty to the economy, our efforts remain focused on adding the resources needed to deliver improvements in our network performance, lift customer satisfaction and develop new rail service solutions to drive meaningful growth over the long term.”
