
CSX Stock Climbs on Q2 Earnings, Revenue Beat
NEW YORK (TheStreet) -- Shares of CSX (CSX) - Get Report are gaining 4.33% to $28.19 in late-afternoon trading on Wednesday after the railroad operator reported second-quarter earnings and revenue that surpassed analysts' expectations.
The Jacksonville, FL-based company reported adjusted earnings of 47 cents per share, beating analysts' estimates of 44 cents per share.
Revenues fell 12% year-over-year to $2.70 billion for the most recent period, according to CNBC. The decline was driven by a 9% decrease in volume that weighed on nearly all markets, including more than a 30% drop in its coal segment, according to a company statement.
Sales nonetheless came in above analysts' projections of $2.69 billion.
CSX expects that full-year earnings will continue to decline, reflecting the "ongoing transition in the energy markets" and the impact of a stronger dollar and lower commodity prices.
CSX reported its results earlier than anticipated after accidentally releasing information on Twitter (TWTR) earlier today.
Separately, TheStreet Ratings team rates the stock as a "buy" with a ratings score of B.
CSX's strengths such as its largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels, good cash flow from operations and expanding profit margins. We feel its strengths outweigh the fact that the company has had sub par growth in net income.
You can view the full analysis from the report here: CSX
TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author.










