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News Summary: CSX railroad's 4Q profit down 3 pct
Tuesday - 1/22/2013, 6:28pm EST
(AP) - COAL CONCERNS: CSX railroad says coal revenue fell 18 percent in the fourth-quarter, but growth in intermodal and merchandise shipments nearly offset that. CSX says net income declined 3 percent to $443 million, or 43 cents per share.
BEATING THE STREET: The railroad's results beat what Wall Street expected. Analysts surveyed by FactSet had predicted earnings of 39 cents per share.
HOPEFUL HAULER: CSX Chairman, CEO and President Michael Ward said the results show the railroad can respond well to challenging conditions. He'll provide details on a conference call Wednesday morning.
(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)