CSX Earnings Beat, Revenue Misses In Q2 as Virus Impact Slows Activity

 CSX Earnings Beat, Revenue Misses In Q2 as Virus Impact Slows Activity
imageStock Markets8 hours ago (Jul 22, 2020 04:31PM ET)

(C) Reuters. CSX Earnings Beat, Revenue Misses In Q2

By Yasin Ebrahim

Investing.com – CSX (NASDAQ:CSX) reported second-quarter earnings that beat analysts’ forecasts and revenue that fell short of expectations as the Covid-19 pandemic hurt volume.

CSX shares fell 1.5% in after-hours trade following the report.

CSX announced earnings per share of $0.65 on revenue of $2.26 billion. Analysts polled by Investing.com anticipated EPS of $0.64 on revenue of $2.32 billion.

Revenue for the second quarter fell 26% over the prior year, owing to the lower economic activity driven by the Covid-19 pandemic.

Expenses decreased 19% year over year to $1.43 billion, driven by volume-related reductions and continued efficiency gains.

CSX’s report follows an earnings beat by Canadian National Railway on Tuesday, which reported EPS of $1.28 on revenue of $3.21 billion, compared to forecasts EPS of $0.92 on revenue of $3.25 billion.

Stay up-to-date on all of the upcoming earnings reports by visiting Investing.com’s earnings calendar

CSX Earnings Beat, Revenue Misses In Q2 as Virus Impact Slows Activity

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