CSX Reports Jump in First-Quarter Income
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“A strong pricing environment resulting from high demand contributed significantly to the company’s revenue growth,” said Michael Ward, CSX’s chairman and chief executive officer.
astern freight railroad CSX Corp. reported its first-quarter income jumped to $579 million or $2.56 a share, up from $30 million or 14 cents a year earlier.
The earnings included an after-tax gain of $425 million or $1.88 per share from the sale of its international terminals business, CSX said.
The company’s surface transportation operating income was a record $351 million, up from $151 million a year ago, which had been reduced by a $53 million management restructuring charge.
