CSX Corp. yesterday announced first-quarter 2020 net earnings fell 8 percent to $770 million, or $1 per share, compared to $834 million, or $1.02 per share, in the same quarter last year. The Class I withdrew its outlook for the year because of ongoing economic uncertainty over the COVID-19 pandemic.
Operating revenue fell 5 percent to $2.86 billion during the quarter, as growth in merchandise revenue was more than offset by declines in coal and other revenue. Expenses dropped 7 percent year over year to $1.68 billion, driven by efficiency gains, CSX officials said in a press release.
www.progressiverailroading.com
Operating revenue fell 5 percent to $2.86 billion during the quarter, as growth in merchandise revenue was more than offset by declines in coal and other revenue. Expenses dropped 7 percent year over year to $1.68 billion, driven by efficiency gains, CSX officials said in a press release.
Rail News - CSX reports lower Q1 earnings, withdraws 2020 outlook. For Railroad Career Professionals
www.progressiverailroading.com
