CSX third-quarter earnings rise to 57 cents a share as revenue climbs 12 percent to $4.02bn

CSX moved 1.69 million units of freight in the third quarter, 5 percent more than a year earlier, according to results the Jacksonville railroad filed with the SEC on Wednesday. Intermodal volume rose 7 percent. Revenue rose 12 percent to $4,017m from $3,587m, which the company called a quarterly record and attributed to higher fuel surcharge revenue together with more volume and better pricing in merchandise, intermodal and coal.

Operating income was $1.57bn against $1.09bn, and the operating margin widened by 880 basis points to 39.1 percent. Net earnings came to $1,052m, or 57 cents a diluted share, against $694m and 37 cents. The year-earlier quarter carried a $164m non-cash goodwill impairment, and with that charge set aside CSX said operating income rose 25 percent and earnings per share 30 percent, from an adjusted 44 cents.

Chief executive Steve Angel said the railroad enters the fourth quarter well positioned and is working toward what he called best-in-class performance in 2027.