CSX Shares Rally On Better-than-expected Earnings On Volume Growth

By Sue Chang Markets MarketWatch Pulse

Shares of CSX Corp. rallied in Wednesday's extended session after the railroad operator posted stronger-than-expected quarterly results. CSX reported its first-quarter earnings rose to $362 million, or 39 cents a share, from $356 million, or 37 cents a share, a year earlier. Excluding restructuring charges, CSX would have earned 51 cents a share. Revenue rose 10% to $2.87 billion on the back of volume gains in most markets and an increase in pricing. Analysts surveyed by FactSet had projected earnings per share of 43 cents and revenue of $2.76 billion. CSX gained more than 3% after hours.

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