CSX Corp. reported a profit of $457 million in the fourth quarter ending Dec. 30, a 6 percent increase over the fourth quarter of 2010.
Revenue for the quarter was $2.95 billion, 5 percent more than in the fourth quarter of the previous year.
For the year, CSX had a profit of $1.8 billion, 17 percent more than in 2010. Revenue in 2011 was $11.7 billion, 10 percent higher than in 2010.
In the fourth quarter, the company said pricing per unit improved an average of 10 percent. It was up in all commodities except phosphates and fertilizers, where it fell by 9 percent per unit.
CSX had revenue increases in all commodities during the fourth quarter. Volumes were up for all commodities except agricultural products (down 2 percent), coal (down 3 percent), and intermodal. The company moved 579,000 intermodal units in the fourth quarter, but intermodal revenue grew 13 percent to $375 million as revenue rose 14 percent to $648 per unit.
The company said intermodal volume “growth in domestic shipments was offset by weak international demand. Domestic shipments improved from continued strength in over-the-road conversions due to higher fuel prices and expanded service offerings. International volume declined as retailers had a more moderate peak season this year. The increase in revenue per unit was attributable to higher fuel recovery due to rising fuel prices and increased yields in both sectors.”
CSX profit up 6% in 4Q
