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MarketScreener Homepage  >  Equities  >  Nasdaq  >  CSX Corporation    CSX

CSX CORPORATION

(CSX)
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CSX : Beats 3Q Profit Expectations, Tees Up More Stock Buybacks

10/21/2020 | 04:34pm EST

By Micah Maidenberg

CSX Corp. reported third-quarter results that were better than in the second period, but the railroad company still has a ways to go to recover from the economic downturn caused by the Covid-19 pandemic lockdowns.

Despite that challenge, the Jacksonville, Fla.-based company said Wednesday its board authorized spending an additional $5 billion on share repurchases. That adds to $1.1 billion CSX currently has available for buybacks.

The railroad company focused on parts of the Northeast, the Midwest and the South reported a quarterly profit of $736 million, or 96 cents a share, down from $856 million, or $1.08 a share, for the year-earlier period.

Analysts expected 92 cents a share in earnings for the latest period, or 93 cents a share following adjustments.

Revenue for the third quarter fell 11% year over year to $2.65 billion, CSX said. Analysts had forecast $2.67 billion for the third quarter.

During the second quarter, CSX reported a profit of 65 cents a share on $2.26 billion in revenue, according to FactSet.

Railroads have been hurt as the coronavirus pandemic rippled through the industrial sector and consumer economy, dampening demand for all manner of goods.

CSX said coal-related revenue dropped 36% in the third quarter compared with last year. Revenue from metals and related equipment shipments slid 18%, while those for automotive products fel 9%. Intermodal revenue was flat year over year.

Write to Micah Maidenberg at micah.maidenberg@wsj.com

(END) Dow Jones Newswires

10-21-20 1633ET

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Financials (USD)
Sales 2020 10 508 M - -
Net income 2020 2 748 M - -
Net Debt 2020 13 585 M - -
P/E ratio 2020 25,4x
Yield 2020 1,17%
Capitalization 69 816 M 69 816 M -
EV / Sales 2020 7,94x
EV / Sales 2021 7,41x
Nbr of Employees 19 000
Free-Float 99,9%
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Technical analysis trends CSX CORPORATION
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TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 28
Average target price 89,00 $
Last Close Price 91,29 $
Spread / Highest target 11,7%
Spread / Average Target -2,51%
Spread / Lowest Target -43,0%
EPS Revisions
Managers
NameTitle
James M. Foote President, Chief Executive Officer & Director
John J. Zillmer Non-Executive Chairman
Jamie Boychuk Executive Vice President-Operations
Kevin S. Boone Chief Financial Officer & Executive VP
Kathleen Brandt Chief Information Officer & Senior Vice President
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