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7/15/2014 4:30:00 PM Write a Letter to the Editor Write a letter to the Editor

CSX Net Income Rises 1.5%

Luke Sharrett/Bloomberg News

CSX Corp. reported second-quarter net income rose 1.5% to $529 million, or 53 cents per share, helped by revenue increases in the intermodal, chemicals and agricultural products freight.

Revenue rose 7% to $3.24 billion from $3.05 billion for the Jacksonville, Florida-based railway. In the year-earlier period, net income was $521 million, or 51 cents per share.

Intermodal revenue rose 6% to $449 million, reflecting a 7% rise in truck-rail shipments. Chemicals revenue climbed 17% to $556 million, and agricultural products increased 15% to $285 million.

“With the broad-based economic momentum we are seeing, the core earning strength of this company is improving and driving value for shareholders,” CEO Michael Ward said in a statement.

CSX also said it was increasing 2014 capital spending, after an 8% rise in freight volume during the second quarter.

By Transport Topics

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