CSX Corp. Announces First Quarter 2021 Financial Results

CSX Corp. today announced first quarter 2021 net earnings of $706 million, or $0.93 per share, compared to $770 million, or $1.00 per share in the same period last year.

“I am extremely proud of how our team of railroaders handled the challenges presented by the difficult operating conditions this quarter,” said James M. Foote, president and chief executive officer. “Looking forward, the strengthening economic momentum is providing added visibility into volume growth, and we are taking the necessary steps to ensure we are ready to handle these volumes and provide our customers with an industry-leading service product.”

Revenue for the first quarter decreased 1 percent from the prior year to $2.81 billion, as intermodal and other revenue growth was more than offset by declines in merchandise, coal, and fuel surcharge revenues. Expenses increased 2 percent year over year to $1.71 billion and operating income declined 7 percent for the quarter to $1.10 billion.

-via Press Release

This article was posted on: April 21, 2021