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CSX beats 1Q profit forecasts

JACKSONVILLE, Fla. (AP) _ CSX Corp. (CSX) on Tuesday reported first-quarter profit of $356 million.

On a per-share basis, the Jacksonville, Florida-based company said it had net income of 37 cents.

The results beat Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of 36 cents per share.

The freight railroad posted revenue of $2.62 billion in the period, which missed Street forecasts. Three analysts surveyed by Zacks expected $2.73 billion.

CSX shares have fallen 4 per cent since the beginning of the year, while the Standard & Poor’s 500 index has increased nearly 1 per cent. In the final minutes of trading on Tuesday, shares hit $24.92, a fall of 25 per cent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CSX at http://www.zacks.com/ap/CSX

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Keywords: CSX, Earnings Report, Priority Earnings