CSX Announces Record First Quarter 2019 Financial Results
JACKSONVILLE, Fla. - April 16, 2019 - CSX Corporation (NASDAQ: CSX) today announced first quarter 2019 net earnings of $834 million, or $1.02 per share, versus $695 million, or $0.78 per share in the same period last year (an earnings per share increase of 31 percent). CSX’s operating ratio set a company first quarter record of 59.5 percent, significantly improved from 63.7 percent in the prior year.
“The CSX team of exceptional railroaders continues to execute across all aspects of our business, delivering new all-time high service levels,” said James M. Foote, president and chief executive officer. “These results reflect the strength of our Company’s operating model and our commitment to providing a best-in-class service offering to our customers.”
Revenue for the first quarter increased 5 percent over the prior year to $3.01 billion, driven by Merchandise volume growth and broad-based pricing gains. Expenses decreased 2 percent year over year to $1.79 billion, driven by continued efficiency gains. This combination yielded operating income growth of 17 percent for the quarter to $1.22 billion compared to $1.04 billion in the same period last year.
CSX executives will conduct a conference call with the investment community this afternoon, April 16, at 4:30 p.m. Eastern Time. Investors, media and the public may listen to the conference call by dialing 1-888-327-6279 (1-888-EARN-CSX). For callers outside the U.S., dial 1-773-756-0199. Participants should dial in 10 minutes prior to the call and enter in 3276279 as the passcode.
In conjunction with the call, a live webcast will be accessible and presentation materials will be posted on the company's website at http://investors.csx.com. Following the earnings call, an internet replay of the presentation will be archived on the company website.
This earnings announcement, as well as additional detailed financial information, is contained in the CSX Quarterly Financial Report available through the company’s website at http://investors.csx.com and on Form 8-K with the Securities and Exchange Commission.
The following information was filed by Csx Corp (CSX) on Tuesday, April 16, 2019 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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Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were removed, and by Csx Corp.