CSX delivered 3% more shipments in the third quarter to help drive its profit 8% higher.
3 weeks after moving into their forever home, an Orange Park couple was forced out. Here’s what happened
The railroad expects the hurricanes to be a $50 million drag on its fourth-quarter results through a combination of rebuilding costs and lost revenue. CSX CEO Joe Hinrichs said Helene was the most damaging hurricane to hit the railroad since Katrina in 2005, and cost CSX about $10 million to $15 million in the third quarter, but CSX worked to recover quickly by clearing more than 15,000 trees from the tracks and setting up 400 generators to keep signals running after the storms.
During the quarter that ended Sept. 30, the railroad said its revenue crept up 1% to $3.62 billion. Analysts were expecting CSX to report revenue of $3.68 billion. The railroad has been working for years to reduce its expenses by running fewer, longer trains, so it can operate with fewer locomotives and train crews. That work to streamline the railroad’s operations continued this quarter with expenses declining 2% to $2.27 billion.
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