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CSX Q1 results top estimates amid 'solid' volume climb

Investing.com
·1-min read

By Yasin Ebrahim

Investing.com -- CSX reported Thursday first-quarter results that beat analysts' forecasts, driven by "solid" climb in volume growth and higher prices.

CSX Corporation (NASDAQ:CSX) shares gained 1% in after-hours trade following the report.

CSX announced earnings per share of $0.48 on revenue of $3.71 billion. Analysts polled by Investing.com anticipated EPS of $0.43 on revenue of $3.59B.

Revenue for the first quarter rose 9% over the prior year, underpinned by "solid volume growth in merchandise and coal, higher fuel surcharge, and pricing gains," the company said.

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Looking ahead to fiscal 2023, the railroad company said it expected low single digit revenue ton-mile growth for the full year, and capex expected to be about $2.3 billion.

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