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YRC Worldwide Inc. Message Board

  • chelsea10011 chelsea10011 Oct 13, 2009 4:21 PM Flag

    CSX beat estimates

    CSX one of the country's largest railroads beat estimates!

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    • YRCW is perfect fro Christmas inventories.

    • CSX said worst of the recession behind us.

      CSX earnings fall, says worst of recession is over
      CSX says worst of recession is over, but demand still weak as it reports lower 3Q earnings
      By Samantha Bomkamp, AP Business Writer
      On 5:13 pm EDT, Tuesday October 13, 2009
      Buzz up! 7
      Print

      Companies: CSX Corp.Norfolk Southern Corp.

      NEW YORK (AP) -- CSX Corp., the nation's third largest railroad, said Tuesday it believes the worst of the recession is over, but its third-quarter earnings fell 23 percent from a year ago because shipping demand is still weak.


      AP - FILE - In this Wednesday, May 20, 2009 file photo, a CSX train moves through the center of ...
      Related QuotesSymbol Price Change
      CSX 44.28 0.00

      NSC 45.68 0.00



      CSX, which operates its signature blue and yellow locomotives from Canada to Florida and west to the Mississippi River, said overall shipping fell 15 percent from a year ago in the June-to-September period. The biggest drops were in shipments of coal, cars, construction and consumer goods. The company warned that demand for coal, one of its biggest segments, will remain weak well into next year.

      But CSX said that the third-quarter decline in total volume wasn't as steep as in the second quarter -- possibly indicating the start of an economic recovery in the U.S. Rail traffic is seen as an indicator of the economy's direction because so many everyday goods are shipped on the tracks.

      CSX earned $293 million, or 74 cents per share, in the third quarter.

      Revenue fell 23 percent to $2.29 billion, mostly due to lower fuel surcharges.

      Analysts polled by Thomson Reuters expected earnings of 71 cents per share on revenue of $2.32 billion.

      "The third quarter reinforces our view that the worst of the recession is likely behind us," President and CEO Michael J. Ward said in a statement.

    • yrcw will beat estimates too, just to the bad side

 
YRCW
23.22+0.13(+0.56%)Aug 29 4:00 PMEDT

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