Economy - Finance > Investment

CSX 1Q profit dips 8% but railroad sees economy growing

19 days ago   |   By Chron

OMAHA, Neb. - CSX Corp. said its first-quarter profit declined 8% due to higher expenses, but the railroad said it expects to benefit as the U.S. economy strengthens further over the rest of the year.
The Jacksonville, Florida-based company said Tuesday that it earned $706 million, or 93 cents per share, during the quarter. That's down from $770 million, of $1 per share, a year ago.
The results fell short of Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 95 cents per share.
CSX reiterated that it expects volume to...
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