CSX beats Street 4Q forecasts

Markets Associated Press

FILE - In this March 21, 2014, file photo, CSX hopper cars sit in a yard in Baltimore. CSX Corp. reports financial results on Tuesday, Jan. 17, 2017. (AP Photo/Patrick Semansky, File) (The Associated Press)

CSX Corp. (CSX) on Tuesday reported fourth-quarter net income of $458 million.

Continue Reading Below

The Jacksonville, Florida-based company said it had net income of 49 cents per share. Earnings, adjusted for non-recurring costs, came to 54 cents per share.

The results surpassed Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of 49 cents per share.

The freight railroad posted revenue of $3.04 billion in the period, also topping Street forecasts. Seven analysts surveyed by Zacks expected $2.86 billion.

CSX shares have increased almost 6 percent since the beginning of the year, while the Standard & Poor's 500 index has increased 1 percent. In the final minutes of trading on Tuesday, shares hit $38.03, a climb of 63 percent in the last 12 months.

_____

Continue Reading Below

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 https://www.zacks.com/ap/CSX

_____

Keywords: CSX, Earnings Report, Priority Earnings