CSX Stock Tracks Higher On Q2 Results
Portfolio Pulse from Erica Kollmann
CSX Corporation (NASDAQ:CSX) shares rose after reporting Q2 earnings of 49 cents per share on $3.7 billion revenue, slightly below estimates. Positive merchandise pricing and volume growth were offset by declines in export coal prices and other revenue. Total volume increased by 2%, and operating margin improved sequentially. CSX shares are up 4.85% after-hours.
August 05, 2024 | 8:42 pm
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CSX Corporation reported Q2 earnings of 49 cents per share on $3.7 billion revenue, slightly below estimates. Positive merchandise pricing and volume growth were offset by declines in export coal prices and other revenue. Total volume increased by 2%, and operating margin improved sequentially. CSX shares are up 4.85% after-hours.
CSX's Q2 earnings report showed positive merchandise pricing and volume growth, which outweighed the slight revenue miss and declines in export coal prices. The sequential improvement in operating margin and the CEO's positive outlook contributed to the after-hours stock price increase.
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