WASHINGTON (dpa-AFX) - CSX Corp. (CSX) on Wednesday reported a 52 percent increase in third-quarter profit, reflecting higher revenue and operating income, as freight volumes strengthened across key markets.
Net earnings for the quarter rose to $1.05 billion, or $0.57 per share, from $694 million, or $0.37 per share, in the year-ago quarter.
Revenue increased 12 percent to $4.02 billion from $3.59 billion a year earlier, driven by higher fuel surcharge revenue as well as increased volume and pricing across merchandise, intermodal and coal.
Operating margin expanded to 39.1 percent from 30.3 percent.
Total volume increased 5 percent to 1.69 million units. Intermodal volume grew 7 percent, while merchandise volume rose 3 percent and coal volume increased 2 percent.
'CSX delivered strong earnings growth in the third quarter as disciplined execution helped us move more freight, for more customers, while maintaining our high standards for safety and service,' said Steve Angel, president and chief executive officer.
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