CSX Corp. announced on April 16 that its first-quarter 2019 net earnings reached $834 million, or $1.02 per share, against $695 million ($.78 per share) year-over-year—an earnings per share increase of 31%.
In addition, CSX’s operating ratio set a company first-quarter record at 59.5%, an improvement over last year’s 63.7%.
Revenue for the first quarter increased 5% over the prior year to $3.01 billion, driven by Merchandise volume growth and broad-based pricing gains. Expenses decreased 2% year-over-year to $1.79 billion, driven by continued efficiency gains. This combination yielded operating income growth of 17% for the quarter to $1.22 billion compared to $1.04 billion in the same period last year.
“The CSX team of exceptional railroaders continues to execute across all aspects of our business, delivering new all-time high service levels,” said James M. Foote, President, CEO, CSX. “These results reflect the strength of our company’s operating model and our commitment to providing a best-in-class service offering to our customers.”