<p>CSX (NASDAQ: CSX) results for the first quarter of 2020 have their shares moving after the evening of Wednesday. This comes after reporting a diluted earnings per share (EPS) of $ 1. It is above the Wall Street estimate of 94 cents per share. The railway company’s revenue of $ 2.86 billion also corresponds to analysts’ estimates for the quarter.
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Here are some additional highlights from the latest CSX performance report.
Earnings after dilution per share decreased approximately 1.96% from USD 1.02 in the same period the year before. Revenue was 4.98% lower than the $ 3.01 billion reported in the first quarter of 2019. Operating profit of $ 1.18 billion is a decrease of 3.28% compared to the previous year from $ 1.22 billion. The CSX revenue report also has a net profit of $ 770 million. This is 7.67% worse than the net profit of $ 834 million from the same time last year.
James Foote, President and CEO of CSX, said this in the earnings report:
“I am extremely proud of our outstanding CSX employees for keeping the railway running at such a high level during these unparalleled times and enabling the delivery of critical goods across the country. Their hard work and commitment over the past few weeks and throughout our transformation has put CSX in the strongest position it has ever entered this period of economic uncertainty.
CSX does not include guidance in its latest earnings report. It makes sense because many companies are holding back the prospect due to the new coronavirus pandemic.
CSX shares rose 2.23% after Wednesday.
At the time of writing, William White had no position in any of the above securities.
Article printed from InvestorPlace Media, https://investorplace.com/2020/04/csx-earnings-dip-stock-deswide-beat/.
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