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CSX Corporation Down 2.69% To $30.22 After Earnings Beat

Thursday, January 26, 2023 02:24 PM | InvestorsObserver Analysts

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CSX Corporation Down 2.69% To $30.22 After Earnings Beat

CSX Corporation (CSX) said after close Wednesday that it earned $0.49 per share in quarter four 2022.

On the revenue line, the company reported $3.7 billion, beating estimates by $10 million.

In the same quarter a year ago, the company earned $0.42 per share on revenue of $3.4 billion.

The stock is down 2.69% to $30.22 after the report.

The firm's lower revenue growth to earnings signals that the firm has been able to reduce costs and improve its profit margin overall.

Wall Street Analysts had an average rating of Buy on the stock prior to the report.

InvestorsObserver gives the stock a Bearish Sentiment score at the moment based on recent trading.

Prior to the report, InvestorsObserver gave the stock an overall score of 46. Meanwhile, the average Wall Street analyst rated the stock a Buy.

Operating in the Eastern United States, Class I railroad CSX generated revenue near $12.5 billion in 2021. On its more than 21,000 miles of track, CSX hauls shipments of coal (13% of consolidated revenue), chemicals (22%), intermodal containers (16%), automotive cargo (9%), and a diverse mix of other bulk and industrial merchandise.

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