By Emon Reiser


CSX Corp. on Wednesday reported better-than-expected profit in its fourth quarter driven by a higher fuel surcharge, pricing gains, and an increase in storage and other revenues.

The Jacksonville, Fla.-based freight-railroad operator reported net income of $1.02 billion for the three months ended Dec. 31, 2022, compared with $934 million a year earlier. Analysts polled by FactSet expected $995 million.

Earnings were 49 cents a share, compared with 42 cents a share last year. Analysts expected 47 cents a share.

Revenue came in at $3.73 billion, compared with $3.42 billion in the year-ago quarter. Analysts expected $3.73 billion, according to FactSet.

The company said severe winter weather in late December modestly reduced volumes and revenue for the quarter.

Railroads continue to face disruptions tied to having a shortage of workers. Some freight railroad operators, such as Union Pacific and CSX Corp., said they have made progress on hiring and service levels since this past spring.


Write to Emon Reiser at Emon.Reiser@WSJ.com


(END) Dow Jones Newswires

01-25-23 1635ET