LONDON, UK / ACCESSWIRE / October 19, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on CSX Corp. (NASDAQ: CSX), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=CSX, following the Company's disclosure of its financial results on October 17, 2017, for the third quarter of the fiscal year 2017 (Q3 FY17). The Jacksonville, Florida-based Company's adjusted net earnings per diluted share met market consensus estimates in the reported quarter. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:

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Earnings Reviewed

During the quarter ended September 30, 2017, CSX reported total revenues of $2.74 billion compared to $2.71 billion in Q3 FY16. The Company's quarterly revenues growth was supported by core pricing gains and offset by the impact of unfavorable mix. However, total revenue numbers fell short of the market consensus estimates of $2.77 billion for Q3 FY17. In the reported quarter, the total volume improved from 1.57 million units in Q3 FY16 to 1.59 million units in Q3 FY17. Furthermore, revenue per unit remained flat at $1,728 in the reported quarter, as pricing gains and higher fuel recoveries were offset by mix.

The freight railroad Company's net earnings increased to $459 million, or $0.51 per diluted share, in Q3 FY17 from $455 million, or $0.48 per diluted share, in Q3 FY16. Meanwhile, the Company's adjusted net earnings per diluted share also stood at $0.51, which was in-line with Wall Street's estimates.

Operational Metrics

For the reported quarter, the Company's total expenses came in flat at $1.87 billion. The Company's operating income came in at $876 million for Q3 FY17 compared to $841 million in Q3 FY16. CSX's operating ratio was 68.1% in Q3 FY17 versus 69.0% recorded in Q3 FY16. Additionally, the Company's adjusted operating income stood at $877 million on an adjusted operating ratio of 68.0% in Q3 FY17.

Segment Overview

CSX's Total Merchandise segment's revenues fell 3% to $1.69 billion y-o-y in Q3 FY17. The segment's volume also fell 3% to 651 thousand units y-o-y in Q3 FY17. Meanwhile, average revenue per unit improved to $2,593 for Q3 FY17 from $2,538 in the prior year's same quarter.

Coal segment's revenues grew 10% to $514 million y-o-y in Q3 FY17 as the total volume improved 5% to 218 thousand units y-o-y. Furthermore, revenue per unit also improved 5% to $2,358 y-o-y in Q3 FY17.

During Q3 FY17, Intermodal segment's revenues were $446 million compared to $425 million in Q3 FY16. The segment's volume was 718 thousand units during Q3 FY17 compared to 681 thousand units in Q3 FY16. Moreover, average revenue per unit stood at $621 in the reported period compared to $624 in previous year's corresponding quarter.

Cash Flow and Balance Sheet

During the nine months ended September 30, 2017, net cash provided by operating activities totaled $2.86 billion compared to $2.49 billion in the prior year's same period. Furthermore, the Company reported adjusted free cash flow of $1.57 billion during the first three-quarters of FY17 versus $935 million in the previous year's comparable quarters.

At the close of books on September 30, 2017, CSX had $591 million in cash and cash equivalents compared to $603 million at the close of books on December 30, 2016. Furthermore, the Company reported long-term debts amounting to $11.79 billion as on September 30, 2017, up from $10.96 billion as on December 30, 2016.

Dividend and Share Repurchase

In a separate press release on October 05, 2017, CSX's Board of Directors approved a $0.20 per share quarterly dividend on the Company's common stock. The dividend is payable on December 15, 2017, to shareholders of record at the close of business on November 30, 2017.

In Q3 FY17, the Company repurchased 20 million shares at an aggregate cost of nearly $1.01 billion.

Outlook

In its guidance for the full year FY17, the Company reaffirmed operating ratio expectations to be around the high end of mid-60's and projects EPS growth rate to be in the range of 20% to 25% y-o-y. Furthermore, free cash flow before dividends is anticipated to be around $1.5 billion.

Stock Performance

On Wednesday, October 18, 2017, the stock closed the trading session at $53.68, slipping 1.01% from its previous closing price of $54.23. A total volume of 7.47 million shares have exchanged hands, which was higher than the 3-month average volume of 7.15 million shares. CSX Corp.'s stock price skyrocketed 5.52% in the last three months, 8.31% in the past six months, and 73.05% in the previous twelve months. Furthermore, since the start of the year, shares of the Company have soared 49.40%. The stock is trading at a PE ratio of 28.03 and has a dividend yield of 1.49%. At Wednesday's closing price, the stock's net capitalization stands at $49.72 billion.

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