CSX Corp. announced third quarter 2023 operating income of $1.30 billion compared to $1.58 billion in the prior year period. Net earnings of $846 million, or $0.42 per diluted share, compared to $1.11 billion, or $0.52 per diluted share, in the same period last year.

Third Quarter Financial Highlights

• Revenue totaled $3.57 billion for the quarter, declining 8% year-over-year as the effects of lower fuel prices, reduced intermodal storage revenue, a decline in export coal benchmark prices, and a decrease in intermodal volumes more than offset the effects of higher merchandise yields and coal volume growth.
• Operating income of $1.3 billion decreased 18% compared to the same period in 2022, with an operating ratio of 63.8%. This includes negative impacts of approximately $350 million related to net fuel, storage revenue, and coal prices, partially offset by the favorable impact of $42 million due to out-of-period labor and fringe expenses incurred in the prior year.
• Diluted EPS of $0.42 decreased 19% from $0.52 in the prior year.

-via Press Release