CSX Shares Rise After Quarterly Results Top Expectations

Railroad operator CSX Corp. reported late Tuesday its second-quarter profit rose to $533 million, or 56 cents a share, from $529 million, or 53 cents a share, a year ago. Revenue for the three months ended June 26 fell 6% to $3.06 billion from $3.24 billion, reflecting lower fuel recovery and a 1% drop in freight volume. Operating income rose to $1.02 billion from $997 million a year ago. Analysts surveyed by FactSet had expected the Jacksonville, Fla.-based company to earn 53 cents a share on $3.12 billion in revenue. "CSX expects to deliver mid-to-high single digit earnings per share growth for 2015, although the upper end of that range has become more challenging given the current energy environment," the company said in a statement. CSX shares rose as much as 3.2% on the report in after-hours trade, extending a 3.4% advance over the previous 12 months.