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MarketScreener Homepage  >  Equities  >  Nasdaq  >  CSX Corporation    CSX

CSX CORPORATION

(CSX)
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Delayed Quote. Delayed Nasdaq - 11/30 04:00:01 pm
90.05 USD   -1.36%
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Union Pacific posts soft quarterly profit, shares sink

10/22/2020 | 08:44am EST
A Union Pacific rail car is parked at a Burlington National Santa Fe (BNSF) train yard in Seattle

LOS ANGELES, Oct 22 (Reuters) - Union Pacific Corp on Thursday reported a bigger-than- expected drop in quarterly profit, after demand for e-commerce and beer shipments failed to offset weakness in coal and petroleum carloads, and shares fell 6%.

Volume rebounded toward the end of the third quarter, as U.S. businesses restocked inventories depleted during the pandemic. The nation's largest publicly held railroad expects that lift to continue in the coming months and forecast a low to single digit percentage rise in fourth-quarter volume.

"We probably (will) remain pretty strong through the remainder of this year. As you go into the first quarter next year, that's when the question marks will really start," Union Pacific Chief Executive Lance Fritz said, referring to concerns that the volume resurgence could wane.

The Omaha, Nebraska-based company's third-quarter net income declined 12% year-over-year to $1.4 billion, or $2.01 per share.

Total operating revenue fell 11% to $4.9 billion.

Analysts, on average, expected earnings of $2.06 per share and revenue of $4.96 billion, according to IBES data from Refinitiv.

Shares shed 5.7% to $188.13 in afternoon trading.

Inbound cargo began surging in August at the Port of Los Angeles, the busiest seaport in the United States and a key hub for Union Pacific, which serves the western half of the country.

Executives said that spike created some disruption as the railroad adapted to the swift uptick in demand.

CSX Corp, considered one of the most efficient U.S. railroads, reported better than expected results on Wednesday.

That report came a day after Union Pacific said Chief Operating Officer Jim Vena, a turnaround expert who streamlined the company's operations, would step down at year end.

Vena, a former Canadian National Railway Co executive, joined the company in January 2019 under a deal with a two-year incentive package. Vena will advise CEO Fritz until June of 2021.

(Reporting by Lisa Baertlein in Los Angeles; editing by Chizu Nomiyama and Steve Orlofsky)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
CANADIAN NATIONAL RAILWAY COMPANY -3.94% 136 Delayed Quote.20.52%
CSX CORPORATION -1.36% 90.05 Delayed Quote.26.16%
UNION PACIFIC -0.76% 204.08 Delayed Quote.13.75%
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Financials (USD)
Sales 2020 10 509 M - -
Net income 2020 2 749 M - -
Net Debt 2020 13 585 M - -
P/E ratio 2020 25,1x
Yield 2020 1,18%
Capitalization 68 868 M 68 868 M -
EV / Sales 2020 7,85x
EV / Sales 2021 7,33x
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 89,30 $
Last Close Price 90,05 $
Spread / Highest target 16,6%
Spread / Average Target -0,84%
Spread / Lowest Target -42,3%
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
Sector and Competitors
1st jan.Capitalization (M$)
CSX CORPORATION26.16%69 816
UNION PACIFIC13.75%138 574
CANADIAN NATIONAL RAILWAY COMPANY20.52%77 461
NORFOLK SOUTHERN CORPORATION25.03%61 647
CANADIAN PACIFIC RAILWAY LIMITED27.42%43 702
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