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  • DATVF.ATLPHL
    1.675
    -0.025
    -1.5%
  • DATVF.CHIATL
    1.735
    -0.049
    -2.7%
  • DATVF.DALLAX
    0.970
    0.028
    3%
  • DATVF.LAXDAL
    1.291
    0.011
    0.9%
  • DATVF.SEALAX
    0.929
    0.009
    1%
  • DATVF.PHLCHI
    1.020
    0.031
    3.1%
  • DATVF.LAXSEA
    1.895
    -0.089
    -4.5%
  • DATVF.VEU
    1.477
    -0.014
    -0.9%
  • DATVF.VNU
    1.340
    -0.011
    -0.8%
  • DATVF.VSU
    1.131
    0.020
    1.8%
  • DATVF.VWU
    1.412
    -0.040
    -2.8%
  • ITVI.USA
    9,790.820
    -14.260
    -0.1%
  • OTRI.USA
    5.630
    0.020
    0.4%
  • OTVI.USA
    9,798.000
    -17.600
    -0.2%
  • TLT.USA
    2.650
    0.000
    0%
  • WAIT.USA
    140.000
    -16.000
    -10.3%
  • DATVF.ATLPHL
    1.675
    -0.025
    -1.5%
  • DATVF.CHIATL
    1.735
    -0.049
    -2.7%
  • DATVF.DALLAX
    0.970
    0.028
    3%
  • DATVF.LAXDAL
    1.291
    0.011
    0.9%
  • DATVF.SEALAX
    0.929
    0.009
    1%
  • DATVF.PHLCHI
    1.020
    0.031
    3.1%
  • DATVF.LAXSEA
    1.895
    -0.089
    -4.5%
  • DATVF.VEU
    1.477
    -0.014
    -0.9%
  • DATVF.VNU
    1.340
    -0.011
    -0.8%
  • DATVF.VSU
    1.131
    0.020
    1.8%
  • DATVF.VWU
    1.412
    -0.040
    -2.8%
  • ITVI.USA
    9,790.820
    -14.260
    -0.1%
  • OTRI.USA
    5.630
    0.020
    0.4%
  • OTVI.USA
    9,798.000
    -17.600
    -0.2%
  • TLT.USA
    2.650
    0.000
    0%
  • WAIT.USA
    140.000
    -16.000
    -10.3%
NewsRail

CSX’s fourth-quarter profit dips on lower revenue

CSX’s (NASDAQ: CSX) net profit for the fourth quarter of 2019 slipped 8.5% amid declining revenues due to lower volumes and coal market headwinds, the company said Thursday.

Net earnings for the fourth quarter totaled $771 million, or 99 cents a share, compared with $843 million, or $1.01 a share for the fourth quarter of 2018. Fourth-quarter revenue slipped 8% to $2.89 billion.

Source: CSX

Despite the drop in revenues, fourth-quarter costs were down amid continued efficiency gains and volume-related savings, CSX said. Expenses for the fourth quarter of 2019 fell 9% to $1.73 billion. Meanwhile, fourth-quarter operating income slipped 8% to $1.15 billion.

Source: CSX

The Eastern railroad also said it reached a fourth-quarter record operating ratio of 60%, compared with 60.3% in the fourth quarter of 2018. CSX’s full-year operating ratio was a record 58.4%, compared with 60.3% for 2018. Operating ratio can be an indicator of a company’s profitability.

Source: CSX

“The railroad has never run better and we are delivering great service to our customers,” said James M. Foote, CSX’s president and CEO. “What is really amazing is how our employees stepped up to produce efficiencies during tough economic conditions.”

Rail2019 Value2018 ValueY/Y Gross ChangeY/Y % Change
Freight revenue$2,885,000,000.0$3,143,000,000.0($258,000,000.0)-8.2%
Carloads857,000916,000-59,000-6.4%
Revenue per carload$1,875,000,000$1,907,000,000-$32,000,000-1.7%
Intermodal shipments682,000732,000-50,000-6.8%
Intermodal revenue per carload$658,000$672,000-$14,000-2.1%
Employee counts2090822475-1,567-7.0%
Train velocity (mph)21.319212.1%
Dwell time (hours)8.49.2-1-8.7%
OR%60.0%60.3%-0.3%-0.5%
EPS$0.99$1.01-$0.02-2.0%


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Joanna Marsh

Joanna is a Washington, DC-based writer covering the freight railroad industry. She has worked for Argus Media as a contributing reporter for Argus Rail Business and as a market reporter for Argus Coal Daily.

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