CSX reports 7% increase in operating income during third quarter

JACKSONVILLE, Fla. — CSX Corp. reported third-quarter operating income of $1.35 billion with net earnings of $894 million, or 46 cents per diluted share, in financial results announced Wednesday.

Those results compare with $1.27 billion in operating income and $828 million in earnings, or 41 cents per share, in the same quarter a year ago.

The railroad handled a total volume of 1.59 million units for the quarter, up 3% from a year ago. Its quarterly revenue of $3.62 billion represented a 1% increase, while the operating income was up 7% and its operating margin was 37.4%, an increase of 180 basis points.

“CSX’s commitment to excellent service allowed us to deliver meaningful growth in volume, operating income, and operating margin in the third quarter,” CEO Joe Hinrichs said in a press release. “Over the last several weeks CSX, along with many of the communities in which we operate, was presented with significant challenges brought about by the recent hurricanes. Thanks to the dedication of our employees, our network has remained flexible and resilient, and we remain ready to meet our customers’ needs as they increasingly favor the efficiency and reliability being delivered by the ONE CSX team.”