CSX Q3: In-Line Performance, Fall In Volume And Per Unit Revenue
Portfolio Pulse from Ryan Gustafson
CSX Corporation reported Q3 earnings of 42 cents per share, meeting analyst consensus but marking a 19.23% decrease from last year. Quarterly sales were $3.57 billion, beating the analyst consensus of $3.55 billion but showing an 8.34% decrease from last year. Lower fuel prices, reduced intermodal storage revenue, a decline in export coal benchmark prices, and a decrease in intermodal volumes offset the effects of higher merchandise yields and coal volume growth. CSX ended the quarter with $1.36 billion in cash and equivalents, down by $598 million from last year. Total volume transported fell by 2% year-over-year to 1.55 million units. Revenue per unit fell by 6% to $2,305.
October 19, 2023 | 8:52 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
CSX's Q3 earnings met analyst expectations but showed a decrease from last year. Sales also decreased from last year but beat analyst consensus. Lower fuel prices and reduced intermodal storage revenue were among the factors offsetting higher merchandise yields and coal volume growth.
CSX's Q3 earnings and sales, while meeting or beating analyst expectations, showed a decrease from last year. This, along with the decrease in total volume transported and revenue per unit, could negatively impact the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100