|CSX predicts relatively flat earnings this year||| Print ||
|Written by Associated Press|
|Wednesday, 17 July 2013 09:34|
OMAHA, Neb. (AP) — CSX Corp. officials say investors shouldn't expect much earnings growth this year.
The Jacksonville, Fla.-based railroad expects coal demand to stabilize this year at a lower level, and then CSX predicts its earnings will grow 10 to 15 percent in 2014 as the economy continues improving.
Executives discussed their outlook Wednesday, one day after the company reported profit of $535 million, or 52 cents per share, on $3.07 billion in revenue during the second quarter. That's up from $512 million, or 49 cents per share, on $3.01 billion in revenue in last year's April-June period.
CSX beat Wall Street expectations in the second quarter as rates and total volume increased slightly.
Copyright 2013 The Associated Press.