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CSX Corp (CSX) Reports In-Line Earnings in Q3, Revenues Lag

Zacks Equity Research
Updated

Based in Jacksonville, FL, CSX Corporation CSX is one of the leading transportation suppliers in the United States.

The company has a decent track record with respect to earnings, having outpaced the Zacks Consensus Estimate in three of the last four quarters. The average earnings beat is 8.4%.

Zacks Rank: Currently, CSX has a Zacks Rank #4 (Sell) but that could change following the company’s earnings report which was just released.

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.  

We have highlighted some of the key stats from this just-revealed announcement below:

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Earnings: CSX’s earnings of 51 cents per share were in line with the Zacks Consensus Estimate. Earnings improved 6.3% from the year ago figure due to reduced expenses.

CSX Corporation Price and EPS Surprise

 

CSX Corporation Price and EPS Surprise | CSX Corporation Quote

 

Revenue: Operating revenues came in at $2,743 million, short of the Zacks Consensus Estimate of $2,769.4 million. Revenues improved 1% from the year-ago figure due to pricing gains.

Key Stats to Note:  Operating ratio (operating expenses as a percentage of revenues) improved 90 basis points to 68.1% on a reported basis. The company is implementing the Precision Scheduled Railroading strategy to improve efficiencies. Driven by improved efficiencies, CSX expects the bottom line to expand between 20% and 25% in 2017 on a year-over-year basis. Operating ratio in the high end of mid-60s is expected in 2017. The company expects free cash flow before dividends (excluding restructuring costs) of around $1.5 billion in 2017.

Stock Price: The revenue miss disappointed investors. Consequently, shares of the company were down in pre-market trading at the time of writing.

Check back later for our full write up on this CSX earnings report later!

 

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Zacks Investment Research