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CSX Corporation (CSX) Crushes Q1 Earnings

Karl Utermohlen

It was a strong quarterly earnings report for CSX Corporation (NASDAQ:CSX) as the company unveiled its results after the bell Tuesday and topped analysts’ expectations.

CSX Corporation (CSX)

The company announced that its first-quarter earnings for fiscal 2018 came in at 78 cents per share on an adjusted basis, topping analysts’ consensus estimate of earnings rising 29.4% to 66 cents per share, according to data compiled by Zacks Investment Research.

Operating income was strong for CSX, increasing 36% compared to the year-ago quarter to $1.04 billion as expenses were down by 13% year-over-year, or 8% when excluding its prior-year restructuring charges. The company’s revenue was at $2.88 billion for its first quarter, above the $2.83 billion that Wall Street was calling for, per Zacks.

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“Since implementation of scheduled railroading began in March 2017, CSX has taken significant strides to transform the organization and to make CSX more competitive,” CSX CEO James Foote said in a statement. “Our company’s operating model provides substantial opportunities to leverage our service product offering, capture growth and deliver superior financial returns.”

The company is ranked fourth in the Transportation-Rail Industry Group, holding an IBD Composite Rating of 62 and a Relative Strength Rating of 65. The RS Rating is a metric for the stock’s price performance when compared to other stocks in the IBD database, with a 99 rating meaning it has outperformed 99% of all stocks based on 12-month price performance.

CSX stock was up a fraction of a percentage after the bell Tuesday.

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