CSX reports profit up 24%
CSX Corp. said it had first quarter net profit of $306 million, 24 percent higher than the $246 million earned in the same 2009 period.
Revenue for the quarter ending March 26 was $2.49 billion, 11 percent higher than the $2.25 billion in the year-earlier period.
“CSX drove strong efficiencies in its operations and produced outstanding results as the economy continued to recover,” said Michael J. Ward, chairman, president and chief executive officer.
Volumes of all types of cargo were up 5 percent and revenues per unit improved 6 percent.
Domestic intermodal volume rose 11 percent and international intermodal improved 18 percent. Revenue per unit was 7 percent higher for domestic intermodal and 4 percent higher for international intermodal.