CSX profit drops 27% as railroad shipments decline in the first quarter

OMAHA, Neb. – CSX railroad's nett fell 27% successful the archetypal 4th arsenic 2 large operation projects contributed to a diminution successful shipments.

The Jacksonville, Florida-based railroad said it earned $646 cardinal nett income, oregon 34 cents per share, during the quarter. That's down from $880 million, oregon 45 cents per share, a twelvemonth ago, and the results fell abbreviated of Wall Street expectations.

The analysts surveyed by FactSet Research predicted CSX would gain 37 cents a share.

CSX is successful the mediate of expanding a cardinal passageway successful Baltimore, truthful it volition beryllium capable to transportation double-stacked shipping containers, and the railroad is completing repairs related to Hurricanes Helene and Milton.

CSX said the measurement of shipments it delivered slipped 1%, and gross dropped 7% to $3.42 cardinal arsenic ember and substance surcharge gross fell. That besides came successful little than the $3.45 cardinal that analysts expected.

CSX is 1 of the nation's largest railroads with tracks crisscrossing the Eastern United States.

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