CSX Corp. Misses Q4 Earnings, But Sales Come In Above Expectations

By Claudia Assis Markets MarketWatch Pulse

Shares of CSX Corp. fell more than 2% late Tuesday after the railroad reported fourth-quarter earnings below expectations. CSX said it earned $458 million, or 49 cents a share, in the quarter, compared with $466 million, or 48 cents a share, in the year-ago period. The company cited "headwinds" from low commodity prices and strength in the U.S. dollar in 2016, saying it lost almost $470 million in coal revenue alone. CSX reported fourth-quarter sales of $3.04 billion, compared with $2.78 billion a year ago. Analysts polled by FactSet expected CSX to report adjusted earnings of 50 cents a share on sales of $2.88 billion. Shares ended the regular trading session down 1.8%.

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