JACKSONVILLE, Fla., Oct. 12, 2016 (GLOBE NEWSWIRE) -- CSX Corporation (CSX) today announced third quarter 2016 net earnings of $455 million, or $0.48 per share, down from $507 million, or $0.52 per share, in the same period of last year.
Railroad operator CSX Corporation jumped 3.1% after reporting third-quarter earnings that beat analysts' estimates. CSX earned 48 cents per share during the third quarter, ahead of the 45 cents analysts were expecting.
CSX Corporation (CSX) experienced unusually high volume on Oct. 20, as the stock lost 2.35% to a closing price of $30.34. The stock saw 13.69 million shares trade hands over the course of the day on 67,859 trades.
CSX sees a sequential improvement in revenue declines, but this is driven by pricing as volumes remain sluggish. Strong pricing and cost containment is to be applauded, limiting the fall in operating earnings despite the natural tendency for ...