CSX Stock Falls After Q2 Earnings Miss
CSX Corporation (NASDAQ: CSX) shares are falling after posting a second-quarter earnings and sales miss.
Second-quarter earnings came in at $1.08 per share, missing estimates by 3 cents. Sales came in at $3.06 billion, missing estimates by $80 million.
"I am extremely proud of our dedicated CSX employees for once again achieving new record levels of efficiency this quarter, while also driving a significant improvement in safety," said CEO James M. Foote. "These results reflect the strength of our operating model, and combined with continued improvements in our best-in-class customer service, represent significant progress toward our goal of being the best run railroad in North America."
See Also: Canadian Pacific Chugs Higher On Q2 Earnings Beat
Highlights
Revenues declined 1% year-over-year
Expenses decreased 3% year-over-year
Operating income grew 2% year-over-year
CSX's stock traded lower by 5.7% to $75 per share in Tuesday's after-hours session. The stock closed at $79.55.
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