U.S. Markets close in 43 mins

CSX Q1 Earnings & Revenues Surpass Estimates, Shares Gain

Zacks Equity Research

CSX Corporation CSX delivered first-quarter 2019 earnings of $1.02 per share, beating the Zacks Consensus Estimate of 91 cents. Moreover, the bottom line surged 30.8% year over year. Total revenues of $3,013 million surpassed the Zacks Consensus Estimate of $3,006.8 million and also increased 4.8% year over year. Results were driven by merchandise volume growth and pricing gains.

The better-than-expected earnings and revenues pleased investors. Consequently, the stock rose 4.1% in after-hours trading on Apr 16.

First-quarter operating income augmented 17% year over year to $1,219 million. Operating ratio (operating expenses as a percentage of revenues) improved to 59.5% from 63.7% in the prior-year quarter with total expenses decreasing 2% from the year-ago period.

CSX Corporation Price, Consensus and EPS Surprise

 

CSX Corporation Price, Consensus and EPS Surprise | CSX Corporation Quote


Segmental Performance

Merchandise revenues climbed 6% year over year to $1,879 million in the quarter under review. Moreover, merchandise volumes expanded 3% year over year.

Coal revenues ascended 7% year over year to $538 in the reported quarter. Coal volumes also grew 5% year over year.

Intermodal revenues declined 5% year over year to $428 million. Volumes also slipped 5% on a year-over-year basis.

Other revenues grossed $168 million, up 16% year over year.

Liquidity & Share Buyback

This Zacks Rank #3 (Hold) company exited the first quarter with cash and cash equivalents of $1,188 million compared with $858 million at the end of last December. Long-term debt totaled $15,748 million compared with $14,739 million at 2018 end. As of Mar 31, 2019, net cash provided by operating activities was $1,173 million compared with $966 million in the year-earlier period. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Upcoming Releases

Investors interested in the broader Transportation sector are keenly awaiting first-quarter 2019 earnings reports from key players like Union Pacific Corporation UNP, Landstar System, Inc. LSTR and United Parcel Service, Inc. UPS. While Union Pacific is scheduled to announce first-quarter earnings on Apr 18, Landstar and UPS will release the same on Apr 24 and Apr 25, respectively.

Radical New Technology Creates $12.3 Trillion Opportunity

Imagine buying Microsoft stock in the early days of personal computers… or Motorola after it released the world’s first cell phone. These technologies changed our lives and created massive profits for investors.

Today, we’re on the brink of the next quantum leap in technology. 7 innovative companies are leading this “4th Industrial Revolution” - and early investors stand to earn the biggest profits.

See the 7 breakthrough stocks now>>


Is your investment advisor fumbling your financial future?
See how you can more effectively safeguard your retirement with a new Special Report, “4 Warning Signs Your Investment Advisor Might Be Sabotaging Your Financial Future.” Click to get your free report.
 
CSX Corporation (CSX) : Free Stock Analysis Report
 
Union Pacific Corporation (UNP) : Free Stock Analysis Report
 
Landstar System, Inc. (LSTR) : Free Stock Analysis Report
 
United Parcel Service, Inc. (UPS) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research