Tuesday, January 24, 2012

CSX 4Q, full year set records; Street shrugs

Written by 
  • Print
  • Email

CSX Corp. said late Monday fourth-quarter earnings of 43 cents per share, up 13% from 38 cents per share in the fourth quarter of 2010, as it recorded revenue of about $3.0 billion and operating income of $841 million. CSX also notched an operating ratio of 71.5%.

"CSX once again delivered record earnings per share while investing in resources to support high customer service levels and growth in the near- and long-term," said Michael J. Ward, chairman, president and chief executive officer. "Our performance in 2011 has set a strong foundation for growth, and CSX remains committed to achieving a 65 percent operating ratio by no later than 2015."

CSX generated record performance in revenue, operating income, operating ratio and earnings per share for the full year as well. Revenue increased 10% to $11.7 billion, while operating income rose 11% to $3.4 billion. The Class I railroad’s operating ratio for the full year improved to 70.9%, and its earnings per share improved 24% to $1.67.

Despite the record-setting, Wall Street appeared unappreciative Tuesday, noting CSX earnings of 43 cents per share fell short of analyst expectations by a penny. Shares of CSX stock were down roughly 3.9% in early Tuesday afternoon trading on the New York Stock Exchange.

Get the latest rail news

Rail news and analysis from Railway Age, IRJ and RT&S by email