CSX reports $11.9bn in revenues for FY2019

CSX

CSX saw a revenue decline of 2.6% in comparison to the prior year , reaching a figure of $11.9bn for FY2019. This was attributable to lower volumes and negative mix from coal market headwinds. However, for the full year 2019, CSX generated net earnings of $3.33bn, or $4.17 per share, a year-on-year increase of 0.7% and 8.6%, respectively.

CSX’s Coal segments registered a decrease in revenues and volume of 7.8% and 5.0% respectively. Similarly, the intermodal business segment revenues and volumes decreased by 8.9% and 7.8% respectively. However, CSX’s Merchandise segment grew by 1.3%, in terms of revenue, driven by strong growth in its Agricultural and Food Products, and Minerals products.

Expenses for the year decreased by 5.5% primarily driven by efficiency gains and volume savings, partially offset by inflation.

Source: CSX Corporation