CSX's results are a mixed bag, amid weaker rail demand and 'low expectations'

Intermodal business remains ‘challenged,’ railroad company says

CSX Corp. on Thursday reported a quarterly per-share profit that just missed estimates but sales that just topped them, as shipping demand remained sluggish.

Analysts polled by FactSet expected CSX to report adjusted earnings of 43 cents a share on revenue of $3.55 billion. Citi analyst Christian Wetherbee said Union Pacific’s results marked a “solid start to rail earnings against low expectations.” Demand for shipments later waned, after higher prices for food and other basics re-centered consumer spending on essentials. Retailers, in turn, cut back on orders as they tried to offload goods that customers didn’t want as much, which rippled through to how many items got shipped to stores via ship, rail or truck.

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