Key facts
- CSX reported a 10% rise in second-quarter revenue to $3.94 billion.
- Net income for the quarter was approximately $1 billion, or 54 cents per share.
- Strong intermodal shipments and higher pricing contributed to the financial results.
- Total fuel expenses increased to $446 million.
- The company's shares rose 3% in after-hours trading.
U.S. railroad operator CSX reported a rise in second-quarter profit and revenue, with shares climbing 3% after the bell. The company's financial performance was bolstered by strong intermodal shipments and higher pricing, which helped to counteract a challenging freight environment. Intermodal volume, representing freight moved across multiple transportation modes without rehandling, has remained resilient due to consumer spending. This has allowed operators like CSX to navigate a downturn in coal traffic and weakness in parts of the industrial economy. CSX's second-quarter revenue increased by 10% year-over-year to $3.94 billion. Net income for the quarter was approximately $1 billion, or 54 cents per share, up from $829 million, or 44 cents per share, in the prior year. However, total fuel expenses rose to $446 million from $269 million a year ago.