NEW YORK, September 29, 2015 /PRNewswire/ --

ACI Association has initiated research coverage on CSX Corporation (NYSE: CSX). Select highlights from the internally released reports are being made available to the general public (included below), with access to the entirety of the research available to new members.

Today, membership is open to readers on a complementary basis at the following URL: http://www.aciassociation.com/CSX.pdf

Highlights from our CSX Report include: 


        
        - Record Quarterly Results - On July 14, 2015, CSX Corporation announced its
          financial results for the second quarter of 2015. Net income achieved an all-time
          record of 553 million, up 5% YoY. EPS of $0.56 for the quarter increased 6% YoY as
          well as surpassed Zacks Consensus EPS estimate of $0.53. However, net revenue of $3.06
          billion for the period was down 6% YoY. Zacks consensus estimate for revenues was
          $3.14 billion for the reported quarter. According to the Company, revenue during the
          quarter was impacted by lower fuel recovery, a 1% volume decline and changing business
          mix. The Comany delivered a record operating income of $1.01 billion, higher than
          $0.99 billion in previous year quarter, on the back on lower expenses from continued
          low fuel prices and savings from efficiency initiatives. Moreover, operating ratio
          reached a record low of 66.8% in the quarter.



        
        - Segmental Performance - The merchandise segment of the Company generated revenue
          of $1.85 billion, lower than $1.97 billion in the previous year quarter. Within the
          merchandise segment, agriculture sector contributed $456 million, a decrease of 8% YoY,
          while revenue from industrial sector and housing & construction sector fell by 6% YoY
          and 2% YoY, respectively. In addition, coal's segment's revenue declined by 15%, from
          $744 million in Q2 2014, to $630 million in Q2 2015. Furthermore, intermodal segments
          of the Company generated revenue of $450 million, almost unchanged from $449 million
          in same period last year.



        
        - Outlook for 2015 - The Company expects to deliver mid-to-high single digit
          earnings per share growth for 2015. The Company added that the upper end of that range
          has become more challenging given the current energy environment. With low natural gas
          prices and high inventory levels continuing to reduce utility coal demand, CSX
          projects domestic coal volume to decline by approximately 10% for 2015. Further, the
          forecast for export coal volume remains around 30 million tons for the year. The
          Company also expects meaningful margin expansion as it progresses towards a full-year
          operating ratio in the mid-60s longer term.

To find out how this influences our rating on CSX Corporation, read the full report in its entirety here: http://www.aciassociation.com/CSX.pdf

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