CSX Earnings Basically Flat With Last Year, Revenue Falls 9%

(RTTNews) - CSX Corp. (CSX) announced earnings for the third quarter that were basically flat from last year, as the company faced difficult commodity and currency markets.

The railroad firm said its net earnings slipped slightly from last year, even while earnings per share edged higher. Revenue for the quarter slipped 9 percent.

The company announced net earnings for the third quarter of $507 million, down slightly from the $509 million posted in the same period last year. Earnings per share actually rose, however, ticking up to $0.52 per share, compared to $0.51 per share last year.

Analysts had expected a bottom line of $0.50 per share, according to a survey conducted by Thomson Reuters.

CSX said it still expects its EPS for the full year to be up by a mid-single-digit percentage compared to last year. The company also predicted "meaningful margin expansion."