LONDON, UK / ACCESSWIRE / July 19, 2018 / If you want access to our free earnings report on CSX Corp. (NASDAQ: CSX), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=CSX. The Company reported its second quarter fiscal 2018 operating and financial results on July 17, 2018. The railroad Company outpaced sales and earnings expectations. Register today and get access to over 1,000 Free Research Reports by joining our site below:

www.active-investors.com/registration-sg

Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, CSX most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

www.active-investors.com/registration-sg/?symbol=CSX

Earnings Highlights and Summary

For the second quarter ended June 30, 2018, CSX?s revenues increased 6% to $3.10 billion compared to $2.93 billion in Q2 2017. The Company?s revenue numbers beat analysts? estimates of $4.0 billion.

During Q2 2018, CSX?s expenses decreased 8% to $1.8 billion compared to $1.98 billion in Q2 2017. Excluding a restructuring charge of $115 million in the year ago same period, the Company?s expenses fell 2% on a y-o-y basis, primarily driven by reductions in workforce, crew starts, and the active locomotive fleet as a result of implementing scheduled railroading, partially offset by fuel price increases of $69 million.

For Q2 2018, CSX?s operating income surged 34% to $1.28 billion compared to $957 million in Q2 2017, or 20% when compared to the adjusted operating income of $1.07 billion reported in Q2 2017.

CSX?s operating ratio set an all-time Company quarterly record of 58.6% in Q2 2018 compared to 67.4% in Q2 2017, or 63.5% on an adjusted basis, excluding restructuring charges. The Company?s adjusted operating results represented an operating ratio improvement of 490 basis points versus the year ago comparable period.

CSX reported net earnings of $877 million, or $1.01 per share, in Q2 2018 compared to $510 million, or $0.55 per share, in Q2 2017. The Company?s adjusted earnings surged 58% compared to $0.64 per share in the year ago corresponding period, and were ahead of Wall Street?s estimates of $0.86 per share.

Segment Results

During Q2 2018, CSX?s Merchandise segment?s volume fell 1% to 689,000 on a y-o-y basis. The segment?s Total Revenue Ton-Miles (RTM) advanced 7% to 52.3 on a y-o-y basis. Within the Merchandise segment, the Chemicals unit?s volume remained flat at 169,000 units on a y-o-y basis, as stronger municipal waste, industrial chemicals, and energy shipments were offset by reduced fly ash shipments.

For Q2 2018, the Merchandise segment?s Automotive unit?s volume increased 2% to 118,000 units on a y-o-y basis, due to a stronger demand for trucks and SUVs, which drove higher North American vehicle production for this segment. The segment?s Agricultural and Food Products unit?s volume declined 2% to 112,000 units on a y-o-y basis, due to losses in the ethanol market.

For Q2 2018, CSX?s Coal segment?s volume jumped 7% to 222,000 units on a y-o-y basis. The segment?s domestic utility coal volume declined, reflecting a strong competition from natural gas, while coke, iron ore, and other volume increased, primarily driven by stronger river shipments for domestic steel production. The Coal segment?s export volume increased as global supply levels and elevated global benchmark prices supported continued demand for US coal. The segment?s total coal tonnage was 25.1 million tons in the reported quarter, up 6% compared to the year ago same period.

During Q2 2018, CSX?s Intermodal segment?s volume rose 2% to 735,000 units. Within the Intermodal segment, the Domestic unit?s volume declined slightly as rationalization of low-density lanes in late 2017 more than offset growth with existing customers, due to tightening truck capacity. The segment?s International unit?s volume increased, driven by new customers and a strong performance with existing customers.

From an operating perspective, train velocity and car dwell improved 7% and 11%, respectively, to record levels of 17.4 and 9.7 respectively. From a safety perspective, the FRA reportable personal injury frequency index improved 23% to 0.91 on a y-o-y basis in the reported quarter, driven by a reduction in the number of personal injuries. The FRA train accident frequency rate was 3.72 in the reported quarter, and was unfavorable by 60% y-o-y; driven by an increase in train accidents as well as fewer train miles due to implementing scheduled railroading and more direct routing across the network.

Cash Matters

As of June 30, 2018, CSX?s cash and cash equivalents totaled $1.32 billion, as compared to $401 million as on December 31, 2017. The Company?s net cash provided by operating activities was $1.57 billion in the six months ended June 30, 2018, compared to $872 million in the year ago corresponding period.

Stock Performance Snapshot

July 18, 2018 - At Wednesday?s closing bell, CSX?s stock rose 7.08%, ending the trading session at $69.00.

Volume traded for the day: 16.57 million shares, which was above the 3-month average volume of 4.98 million shares.

Stock performance in the last month ? up 4.37%; previous three-month period ? up 13.10%; past twelve-month period ? up 26.28%; and year-to-date ? up 25.43%

After yesterday?s close, CSX?s market cap was at $60.49 billion.

Price to Earnings (P/E) ratio was at 27.10.

The stock has a dividend yield of 1.28%.

The stock is part of the Services sector, categorized under the Railroads industry. This sector was up 0.3% at the end of the session.

Active-Investors:

Active-Investors (A-I) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. A-I has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

A-I has not been compensated; directly or indirectly; for producing or publishing this document.

PRESS RELEASE PROCEDURES:

The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third-party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email info@active-investors.com. Rohit Tuli, a CFA® charterholder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by A-I. A-I is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

NO WARRANTY

A-I, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. A-I, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, A-I, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

NOT AN OFFERING

This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither A-I nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://active-investors.com/legal-disclaimer/.

CONTACT

For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:

Email: info@active-investors.com
Phone number: 73 29 92 6381
Office Address: 6, Jalan Kia Peng, Kuala Lumpur, 50450 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur, Malaysia

SOURCE: Active-Investors