CSX Stock Falls After Worse-Than-Expected Q3 Results: Details

CSX Corporation (NASDAQ:CSX) shares are trading lower after the railroad company reported its third-quarter financial results after Wednesday's closing bell. Here's a look at the key figures from the quarter.

The Details: CSX reported quarterly GAAP earnings of 46 cents per share, which missed the consensus estimate of 48 cents per share. Quarterly revenue came in at $3.62 billion, also missing the consensus estimate of $3.676 billion. The company said its total volume of 1.59 million units for the quarter was 3% higher as compared to the third quarter of 2023.

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“CSX’s commitment to excellent service allowed us to deliver meaningful growth in volume, operating income and operating margin in the third quarter,” said Joe Hinrichs, CEO of CSX.

“Over the last several weeks CSX, along with many of the communities in which we operate, was presented with significant challenges brought about by the recent hurricanes. Thanks to the dedication of our employees, our network has remained flexible and resilient, and we remain ready to meet our customers’ needs as they increasingly favor the efficiency and reliability being delivered by the ONE CSX team,” added Hinrichs.

CSX Price Action: According to Benzinga Pro, CSX shares are down 3.95% after-hours at $34.07 at the time of publication Wednesday.

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