CSX Q4 profits on lower coal and oil revenue, hurricane-related costs
CSX prices and promotions did not advance in the fourth quarter as they were not enough to overcome the spike in coal and oil finishing revenue.
The impact of the pair of storms — both railroads with high volumes of traffic — will also weigh on CSX’s (NYSE: CSX ) operations, service metrics and weather results.
In general, we kill well in times of crisis. However, we are not satisfied with these results, “CEO Joe Hintrix told Minors that analysts and investors will be shocked by the train on Thursday. We have a clear vision of what we want to achieve in CSX … and we are committed to achieving the benefits of our customers, our employees and our countries.”
Fourth-quarter operating income was due to a $108 million impairment charge related to Carrier’s chemical trucking company. Due to the disability lawsuit, operating income fell 8% for the quarter. Revenue increased by 4% to $3.53 billion. Earnings per share were up 16% to 38 cents.
The operating ratio or operating expenses as a percentage of revenue is 68.7 in the quarter, 4.4 points a year ago.
In November, the investor listed in the three-year growth is using the growth, but the reporter warned that it will mainly face the $350 million tunnel revenues and oil revenues from the low export of coal. year.
This year, CSX will also take on more than $10 million a month in higher operating costs related to the construction of Tim Street reservoirs in Baltimore, and the reconstruction of the Blue Ridge aggregate.
1 day earlier than expected from Infor..1. 1 from the year Since 1997, they have started traffic from CSFALE DRASET PSEST to run two-stack intermerations brougs in the Atlantic view. The long-awaited project should be completed by the end of the year.
Western North Carolina and eastern Tennessee caused $400 million in damage after the Blue Ridge sub-plane left. The traffic is being updated while the line is being rebuilt, – the line is progressing.
Total for the quarter was 2%, driven by a 4% increase in ENGERODED volume. Merchandise volume was flat, with coal traffic up 7%.
The outlook for this year is a 3% to 6% increase in overall volume growth driven by inermallal and retail traffic.