CSX’s 2Q Income Jumps; Railroad Sets Stock 2-for-1 Split
Click here to write a Letter to the Editor.
Revenue rose 12% to $2.4 billion.
astern freight rail line CSX Corp. late Tuesday reported its second-quarter profit more than doubled and it announced a 2-for-1 stock split.
The railroad’s net income jumped to $390 million or $1.66 a share, from $165 million or 73 cents last year.
This year’s earnings included a gain of 50 cents per share from Hurricane Katrina-related insurance recoveries and tax benefits, while last year’s included debt repurchase costs, the railroad said.
The stock split is effective Aug. 15 for shareholders of record as of Aug. 3.
