CSX Sees Profit Below Estimates

CSX (CSX Quote) said Monday that it expects fourth-quarter earnings per share to rise roughly 6% from the same period a year earlier on a 4% increase in revenue.

The Jacksonville, Fla., rail company said it would probably earn 63 cents, including a noncash impairment charge of approximately 27 cents a share related to the writedown of its investment in The Greenbrier resort in West Virginia. Excluding the charge, earnings should be about 90 cents.

Revenue will likely be $2.7 billion for the quarter. Operating income, on a comparable basis, is estimated to climb 16% to $692 million. Analysts were expecting a profit of 98 cents and revenue of $2.77 billion. ...