CSX Sees Q4 EPS To Be Flat To Slightly Up - Quick Facts


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(RTTNews.com) - CSX Corp. ( CSX ) said that it now expect fourth-quarter earnings per share on a reported basis to be flat to slightly up, as macroeconomic headwinds impacting the company's volume are moderating. Total volume is now expected to decline in the low-to-mid single digit range on a comparable 13-week basis, and expected to be flat to slightly up including the extra week that is part of CSX's 2016 accounting year.

At the Credit Suisse 4th Annual Industrials Conference, Executive Vice President and Chief Financial Officer Frank Lonegro
said, "We now expect fourth-quarter earnings per share on a reported basis to be flat to slightly up, as macroeconomic headwinds impacting the company's volume are moderating. At the same time, a recent operating property sale will now offset the impact of a debt refinancing charge announced earlier in the quarter."

Quarter-to-date volume has declined three percent overall, and many markets are showing more moderate declines than in previous quarters. Coal in particular is showing sequential volume stabilization and is essentially flat in the fourth quarter to date.

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This article appears in: News Headlines
Referenced Symbols: CS , CSX


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