(C) Reuters. CSX Earnings Beat, Revenue Misses In Q2
By Yasin Ebrahim
Investing.com – CSX (NASDAQ:CSX) reported second-quarter earnings that beat analysts’ forecasts and revenue that fell short of expectations as the Covid-19 pandemic hurt volume.
CSX shares fell 1.5% in after-hours trade following the report.
CSX announced earnings per share of $0.65 on revenue of $2.26 billion. Analysts polled by Investing.com anticipated EPS of $0.64 on revenue of $2.32 billion.
Revenue for the second quarter fell 26% over the prior year, owing to the lower economic activity driven by the Covid-19 pandemic.
Expenses decreased 19% year over year to $1.43 billion, driven by volume-related reductions and continued efficiency gains.
CSX’s report follows an earnings beat by Canadian National Railway on Tuesday, which reported EPS of $1.28 on revenue of $3.21 billion, compared to forecasts EPS of $0.92 on revenue of $3.25 billion.
Stay up-to-date on all of the upcoming earnings reports by visiting Investing.com’s earnings calendar
CSX Earnings Beat, Revenue Misses In Q2 as Virus Impact Slows Activity
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