CSX Announces Record Second Quarter 2018 Financial Results
JACKSONVILLE, Fla. - July 17, 2018 - CSX Corporation (NASDAQ: CSX) today announced second quarter 2018 net earnings of $877 million, or $1.01 per share, versus $510 million, or $0.55 per share in the same period last year. CSX’s operating ratio set an all-time company quarterly record of 58.6 percent from 67.4 percent in the prior year or 63.5 percent on an adjusted basis, excluding restructuring charges. Compared to 2017 second quarter, the adjusted operating results represent an operating ratio improvement of 490 basis points and a 58 percent increase in earnings per share year over year.
Quarters Ended June 30th
(in millions, except operating ratio and EPS)
Net Earnings per Share, Assuming Dilution
“I could not be more proud of our hardworking CSX employees for achieving these record-setting results,” said James M. Foote, president and chief executive officer. “I expect continued improvement in our safety, service and financial performance.”
Revenue for the second quarter increased 6 percent over the prior year to $3.10 billion, while expenses declined 8 percent year over year or 2 percent when excluding prior year restructuring charges. Operating income for the quarter increased 34 percent to $1.28 billion when compared to $957 million in the same period last year or 20 percent when compared to the adjusted operating income of $1.07 billion reported in the second quarter of 2017.
“While we remain in the early stages of the transformation I am more confident this exceptional team can deliver on our long-term outlook,” said Foote.
The following information was filed by Csx Corp (CSX) on Tuesday, July 17, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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Ticker: CSX CIK: 277948 Form Type:10-Q Quarterly Report Accession Number: 0000277948-18-000040 Submitted to the SEC: Tue Jul 17 2018 5:49:10 PM EST Accepted by the SEC: Wed Jul 18 2018 Period: Saturday, June 30, 2018 Industry: Railroads Line Haul Operating