CSX Corporation announced third quarter 2022 operating income of $1.58 billion compared to $1.44 billion in the prior year period. Net earnings of $1.11 billion, or $0.52 per share, compared to $968 million, or $0.43 per share in the same period last year.

Third Quarter Financial Highlights

• Revenue reached $3.90 billion for the quarter, increasing 18% year-over-year, driven by higher fuel surcharge, pricing gains, a 2% increase in volumes, and an increase in storage and other revenues.
• Operating income of $1.58 billion increased 10% compared to the prior year. Third quarter results include additional labor and fringe expense related to tentative union agreements, with $42M specifically to adjust for wage, bonus, and other benefit costs in prior periods.
• Operating ratio increased to 59.5%, including the effect of the tentative union agreements.
• Diluted EPS of $0.52 increased 21% from $0.43 for the third quarter of 2021.

-via Press Release