CSX tops Street 3Q forecasts

Markets Associated Press

  • FILE - In this March 22, 2014, file photo, a CSX freight train rolls past a grade crossing in Mount Airy, Md. CSX Corp. on Wednesday, Oct. 12, 2016, reported better-than-expected net income in the third quarter even as coal volumes continued double-digit declines. (AP Photo/Patrick Semansky, File)

    FILE - In this March 22, 2014, file photo, a CSX freight train rolls past a grade crossing in Mount Airy, Md. CSX Corp. on Wednesday, Oct. 12, 2016, reported better-than-expected net income in the third quarter even as coal volumes continued double-... digit declines. (AP Photo/Patrick Semansky, File) (The Associated Press)

  • FILE - In this March 22, 2014, file photo, a CSX freight train rolls past a grade crossing in Mount Airy, Md. CSX Corp. on Wednesday, Oct. 12, 2016, reported better-than-expected net income in the third quarter even as coal volumes continued double-digit declines. (AP Photo/Patrick Semansky, File)

    FILE - In this March 22, 2014, file photo, a CSX freight train rolls past a grade crossing in Mount Airy, Md. CSX Corp. on Wednesday, Oct. 12, 2016, reported better-than-expected net income in the third quarter even as coal volumes continued double-... digit declines. (AP Photo/Patrick Semansky, File) (The Associated Press)

CSX Corp. (CSX) on Wednesday reported third-quarter net income of $455 million.

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The Jacksonville, Florida-based company said it had profit of 48 cents per share.

The results beat Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of 45 cents per share.

The freight railroad posted revenue of $2.71 billion in the period, also exceeding Street forecasts. Six analysts surveyed by Zacks expected $2.69 billion.

CSX shares have risen 16 percent since the beginning of the year, while the Standard & Poor's 500 index has increased almost 5 percent. In the final minutes of trading on Wednesday, shares hit $30.18, a climb of slightly more than 6 percent 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