|Bid||68.65 x 2200|
|Ask||69.03 x 4000|
|Day's Range||68.35 - 69.21|
|52 Week Range||58.47 - 80.73|
|Beta (3Y Monthly)||1.25|
|PE Ratio (TTM)||16.39|
|Earnings Date||Jan 14, 2020 - Jan 20, 2020|
|Forward Dividend & Yield||0.96 (1.39%)|
|1y Target Est||76.60|
Earnings fell in the railroad’s third quarter, as sharp drops in freight volume overwhelmed its efficiency improvements.
A preliminary Brexit deal was lifting investors’ spirits, although it isn’t a done deal yet, while earnings season rolls on.
Despite CSX Corp.'s revenue falling 5 percent in the third quarter, a corresponding reduction in expenses — and a drop in the number of outstanding shares — enabled the Jacksonville-based railroad to increase earnings per share by 3 cents. Earnings per share beat analysts' expectations of $1.01. The company posted an operating ratio of 56.8 percent — a company record — on track for its goal of 60 percent for the year.
During Wednesday night's Mad Money program, Jim Cramer mentioned the railroad company CSX Corp. which was on the move, despite a labor strike at General Motors curbing auto and parts shipments. In this daily bar chart of CSX, below, we can see that prices corrected sharply in July and into early August. The daily On-Balance-Volume (OBV) line shows a similar pattern with a low in August and a higher low in October.
(Bloomberg Opinion) -- CSX Corp.’s results were better than many feared they would be, but they came at the expense of several hundred jobs.The railroad on Wednesday said third-quarter revenue declined 5% as the the uncertainty wrought by the trade war and a slump in coal shipments weighed on cargo volumes. Even so, CSX’s earnings per share for the period beat analysts’ estimates and its operating ratio – a measure of profitability in which a lower number is better – fell to 56.8%, compared with 58.7% a year earlier and 57.4% in the second quarter. That reflected in part a $145 million decline in expenses from a drop in fuel prices and operating costs, as well as the reduced headcount.CSX has been aggressively trying to improve its efficiency via the sometimes controversial methodology of “precision scheduled railroading,” which is designed to reduce the amount of cars, manpower and capital needed to run a railroad. This cost-cutting push has become more important as the macroeconomic backdrop has weakened. Overall volume fell 5% in the third quarter at CSX, led by slumps in cargo-container and coal traffic. Shipments of metals, chemicals and cars also declined. The company reiterated its expectation for sales to decrease as much as 2% in 2019, a sign that the guidance cut it announced in July wasn’t the cautious approach management billed it as but an accurate assessment of a gloomier reality. Along those lines, United Rentals Inc. on Wednesday the high end of its revenue guidance for the year, with CEO Matthew Flannery noting that “lingering economic uncertainty could impact construction and industrial activity.”The ways in which industrial companies respond to the deepening slowdown in manufacturing sectors can be politically fraught, particularly when it comes to job cuts. CSX had 21,158 employees at the end of the third quarter, according to the company’s estimates. That’s down about 380 from June and down more than 5,000 from the count at the end of 2016, before activist investor Mantle Ridge LP recruited efficiency champion Hunter Harrison to push a more rigorous cost-management strategy at the company. Harrison died later that year and his protege, Jim Foote, took over as CEO.West Coast railroad Union Pacific Corp. is implementing its own version of this efficiency push and will report earnings on Thursday morning. It’s likely to reveal a similar dynamic of slumping sales being offset by cost and job cuts. Fox 4 Kansas City, citing labor union officials, reported on Wednesday that Union Pacific is laying off 200 people – with just two days notice – as it closes down the local Neff Yard. Union Pacific said some of the workers will be able to be reassigned to operations in other areas.At a time when striking General Motors Co. workers have shut down the company’s 34 U.S. plants for more than a month over demands for better job security and garnered support from leading Democratic candidates for president, it’s fair to wonder whether railroads and other industrial companies may face blowback of their own.To contact the author of this story: Brooke Sutherland at email@example.comTo contact the editor responsible for this story: Beth Williams at firstname.lastname@example.orgThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Brooke Sutherland is a Bloomberg Opinion columnist covering deals and industrial companies. She previously wrote an M&A column for Bloomberg News.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
CSX (CSX) delivered earnings and revenue surprises of 6.93% and -0.09%, respectively, for the quarter ended September 2019. Do the numbers hold clues to what lies ahead for the stock?
CSX Corp. shares rose more than 2% in the extended session Wednesday after the company beat earnings expectations and met Wall Street forecast for sales. The railroad company reported third-quarter net income of $856 million, or $1.08 a share, compared with $894 million, or $1.05 a share, in the year-ago period. Revenue fell to $2.98 billion from $3.13 billion in the year-ago period. Analysts surveyed by FactSet had estimated earnings of $1.01 a share on revenue of $2.98 billion. For the fourth quarter, analysts model earnings of $1.02 a share on sales of $3.01 billion. CSX stock has gained 11.1% this year, with the S&P 500 index rising 19.5%.
CSX Corporation (CSX) today announced third quarter 2019 net earnings of $856 million, or $1.08 per share, versus $894 million, or $1.05 per share in the same period last year (an earnings per share increase of 3 percent). “I am extremely proud of our dedicated team of CSX railroaders for once again setting new records for operating efficiency, customer service, and safety this quarter,” said James M. Foote, president and chief executive officer.
NEW YORK, NY / ACCESSWIRE / October 16, 2019 / CSX Corp. (NASDAQ: CSX ) will be discussing their earnings results in their 2019 Third Quarter Earnings to be held on October 16, 2019 at 4:30 PM Eastern ...
Investing.com - CSX (NASDAQ:CSX) reported third quarter earnings that beat analysts' expectations on Wednesday and revenue that fell short of forecasts.
CSX Corp. is expected to report adjusted net income of $803.4 million, or $1.01 a share, on sales of $3 billion after the market closes on Wednesday, based on a FactSet survey of 23 analysts. In the same period a year ago, the company posted earnings of $1.
The coming week’s docket of economic reports and earnings releases comes just following the Trump administration’s announcement of a partial trade deal with China late last week.
Soft intermodal revenues are likely to have affected CSX's Q3 results. However, the company's cost-reduction efforts might have driven the bottom line.
Is CSX Corporation (NASDAQ:CSX) a good stock to buy right now? We at Insider Monkey like to examine what billionaires and hedge funds think of a company before spending days of research on it. Given their 2 and 20 payment structure, hedge funds have more incentives and resources than the average investor. The funds have […]