OMAHA, Neb. (AP) — CSX Corp. says its second-quarter profit improved 4 percent because the amount of crude oil, fertilizer and containers of products the railroad hauled grew enough to offset a decline in coal shipments.
The Jacksonville, Fla.- based railroad said Tuesday that it generated $535 million net income, or 52 cents per share, during the quarter on $3.07 billion revenue. That's up from $512 million, or 49 cents per share, on $3.01 billion revenue last year.
The total number of carloads CSX delivered in the second quarter grew 1 percent even though coal shipments were still down 6 percent.
The results beat the 47 cents per share profit and $3.02 billion revenue that analysts surveyed by FactSet expected.
CSX shares rose 48 cents to $25.12 in after-hours trading.
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