Earnings Reports

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Railway giant $CSX delivered better than expected Q4 earnings and posted a $3.6 billion gain from the new tax laws. Other railway companies Canadian Pacific $CP and Kansas City Southern $KSU report later in the week.

CSX Railway 

Reaction: CSX Corporation NASDAQ $CSX After Hours $58.62 +0.49 +0.95%

Earnings

Net earnings of $4.1 billion, or $4.62 per share on revenue of $2.86 billion. Excluding items, fourth quarter 2017 adjusted net earnings were $573 million, or $0.64 per share versus $458 million, or $0.49 per share in the same period last year. The release beat expected EPS of 56 cents but was still under expected revenue to $2.88 billion.

Highlights:

  • Q4 net earnings included a $3.6B tax reform benefit resulting from the new tax laws
  • $10M net restructuring charge.
  • Operating ratio of 60.9% for the quarter after expenses fell 14% Y /Y.

This report was the first report after CSX named James Foote as the new president and CEO in December following the death of former chief and legendary railroader Hunter Harrison.

Live From The Pit

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