CSX Railway Reports 20% Drop in First-Quarter Earnings, Expects Challenges in Second-Quarter
SUGAR LAND--April 14, 2016--Researched by Industrial Info Resources (Sugar Land, Texas)--Eastern U.S. freight rail carrier CSX Corporation (NASDAQ:CSX) (Jacksonville, Florida) experienced first-quarter 2016 net earnings of $356 million, down nearly 20% from the same period of last year. Revenues for the quarter were $2.6 billion, down 14% from the same time in 2015. Operating income was $704 million, a decrease of 16% from last year. The company said it expects challenges in both the next quarter and the rest of the year due to continuing low commodity prices, a strong U.S. dollar and energy market transition. Industrial Info is tracking 19 CSX projects worth $1.39 billion. Within this article: Detail's CSX's largest project under development that Industrial Info is tracking.
