CSX turned over $2,933m in revenue in Q2 of 2017, representing growth of approximately 8.5% when compared with the same period in the previous year. It produced operating income of $958m, representing a year-on-year increase of 14.0%. Net earnings stood at $510 for the quarter, up 14.6%.
In its quarterly report, CSX said coal-related gains was key in producing growth in the period. It also attributed strength in core pricing, increased fuel recovery and volume growth in other markets to its better results in the quarter. Furthermore, CSX stated improved asset utilisation, cost control, and fuel optimisation as reasons for its improved profitability.
In total, coal volumes increased 7% in the quarter, producing a revenue gain of 27% for the segment. Intermodal volumes grew 3%, providing 7% revenue growth. Other merchandising volumes fell by 2%, but revenues grew 1%.
Source: CSX Corporation
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