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Rail News: CSX Transportation
10/26/2005
Rail News: CSX Transportation
Third-quarter results: CSX posts record earnings, lowers operating ratio
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Today, CSX Corp. reported third-quarter net earnings of $164 million, a 31 percent increase compared with third-quarter 2004.
During the quarter, surface transportation revenue totaling $2.1 billion rose 9 percent and CSX’s surface transportation operating ratio improved 4.3 points to 83 compared with the same 2004 period. In addition, CSX earned record surface transportation operating income of $361 million, a 46 percent increase compared with third-quarter 2004.
“The strong third-quarter results were particularly gratifying in light of the impact from Hurricane Katrina,” said CSX Chairman and Chief Executive Officer Michael Ward in a prepared statement.
During the quarter, surface transportation revenue totaling $2.1 billion rose 9 percent and CSX’s surface transportation operating ratio improved 4.3 points to 83 compared with the same 2004 period. In addition, CSX earned record surface transportation operating income of $361 million, a 46 percent increase compared with third-quarter 2004.
“The strong third-quarter results were particularly gratifying in light of the impact from Hurricane Katrina,” said CSX Chairman and Chief Executive Officer Michael Ward in a prepared statement.
