While revenue slowed, CSX's (CSX) profit still increased in the most recent quarter.
Earnings and Revenue
The company managed to beat EPS estimates, though the company's revenues failed to top expectations. The company reported EPS of 49 cents a share versus the 47 cents a share estimate and revenues of $3.01 billion versus the $3.05 billion estimate. The estimates of 23 analysts ranged from profit of 44 cents to profit of 51 cents.
For the second quarter, the company reported net income of $512 million. According to the reported number, this is up 1.2% from last year's levels. Revenue fell 0.2% from $3.02 billion in the same period last year.
Company Fundamental Trends
Last quarter marked the third in a row of rising net income. Slumping revenue in the last quarter ends The company's streak of at least four consecutive quarters of revenue increases.
History Against Expectations
The company has managed to top estimates the last two quarters. In the first quarter, it beat expectations with net income of 43 cents versus a mean estimate of net income of 38 cents per share.
"CSX delivered its 10th straight quarter of year-over-year earnings growth despite significant headwinds in its utility coal business," said Michael J. Ward, chairman, president and chief executive officer. "The company continues to perform well across a wide range of economic and market conditions."
Estimates provided by Zacks Investment Research and company fundamentals from Xignite Financials.