US eastern CSX railway quarterly revenue up 13.7pc to US$3 billion

2012 04 24

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AMERICA'S eastern railway, CSX, has posted an 11 per cent increase in first quarter operating profit to US$449 million year on year, drawn on revenues of US$3 billion, up 13.7 per cent, the company announced.

The third largest railway in the US was able to gain on pricing despite a volume increase of only one per cent, reported American Shipper. Intermodal volumes increased 8.4 per cent alongside revenue growth per unit of 9.6 per cent, which was attributed to growth to robust chemical, auto and equipment freight, offsetting a decline in coal and agricultural shipments.

"Although utility coal-related headwinds are likely to be stronger in the second quarter, CSX remains on track to achieve year-over-year earnings growth in 2012," said CSX chief executive Michael Ward.

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