Railroad operator CSX posts 6% drop in quarterly revenue

TransportationReuters

CSX Corp (NYSE:CSX), the third-largest U.S. railroad operator, reported a 6 percent fall in fourth-quarter revenue from the year earlier quarter, when it had an extra fiscal week.

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The Jacksonville, Florida-based railroad said revenue fell to $2.86 billion in the quarter ended Dec. 31, from 3.04 billion a year earlier.

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Net income jumped to $4.14 billion, or $4.62 per share, from $458 million, or 49 cents per share, boosted by benefits from the recently enacted U.S. tax overhaul.

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