CSX boosts 4th quarter profit 46%
Jacksonville-based CSX Corp. Tuesday reported fourth quarter net income of $347 million, up 46 percent from $237 million for the same period in 2005.
CSX's operating income for surface transportation in the fourth quarter was $505 million, up 23 percent compared to the $415 million posted in the prior-year quarter. Operating revenue was up 8 percent to $2.4 billion, from $2.2 billion a year ago.
For the full year, CSX posted a net income of $1.3 billion, up 14 percent from $1.1 billion in 2005. Operating income improved 27 percent to $2.1 billion from $1.5 billion. CSX's annual revenues were up 10 percent to $9.9 billion from $8.6 billion in the previous year.
'Strong pricing and reliable customer service delivered record fourth quarter financial results in our Surface Transportation businesses,' said Michael J. Ward, CSX's chairman and chief executive officer. 'In 2006, we achieved a full-year operating ratio below 80 percent for the first time in nearly a decade and made break-out improvements in our railroad operations.'
CSX boosts 4th quarter profit 46%
