CSX Corporation has announced its financial results for the full year 2014. It reported full year revenue of $12.7bn, representing growth of 5% on 2013’s figure. The company also recorded operating income of $3.6bn, a year-on-year increase of 4%. Accordingly CSX’s margin stood at 28.35%.
“CSX is capturing broad-based market strength, completing strategic infrastructure projects and adding resources to further improve service performance and leverage growth opportunities,” said Michael Ward, Chairman, President and Chief Executive Officer. “Building on a foundation of strong safety and customer service, we expect to continue growing our intermodal and merchandise businesses faster than the economy, pricing above inflation, and driving efficient asset utilization.”
The revenue increase was primarily the result of strength across merchandise, intermodal and coal. The company states that addition of operating resources enhanced service through the fall peak shipping season and supported volume growth.
Looking to 2015, CSX expects continued strong growth across its business mix and is poised for sustainable business expansion. The company continues to expect to generate double-digit growth in earnings per share and margin expansion in 2015, progressing toward a mid-60s operating ratio longer term.
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