CSX CSX Corporation

CSX Corp. reported improving demand trends for the current quarter in many of its markets, particularly for coal, which in recent years has seen shipment declines that have hit results across the railroad sector.

The railroad operator's shares, up 18% in the past month, rose 3% to $35.90 in recent trading.

Stocks of coal-related companies have climbed since the election of Donald Trump, whose campaign included promises to revive the U.S. coal industry.

At a conference Wednesday, CSX finance chief Frank Lonegro said the company now expects its bottom line may increase for the fourth quarter, thanks to moderating volume declines as well as a property sale that will offset the effect of previously disclosed debt-refinancing charges.

For the quarter to date, CSX volume has declined 3% and the company now expects fourth-quarter volume will be flat to up slightly, compared with its previous estimate for volume to remain unchanged.

Meanwhile, coal volume has stabilized from the third quarter and is essentially unchanged so far during the current quarter, CSX stated.

Mr. Lonegro also highlighted CSX's cost-savings efforts, which helped the company post better-than-expected earnings for the third quarter despite weaker volume, including a 21% decline in coal shipments.

Write to Tess Stynes at tess.stynes@wsj.com

(END) Dow Jones Newswires

November 30, 2016 11:05 ET (16:05 GMT)

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