By Patrick Thomas 

This article is being republished as part of our daily reproduction of WSJ.com articles that also appeared in the U.S. print edition of The Wall Street Journal (October 17, 2018).

Railroad operator CSX Corp. (CSX) reported a sharp increase in profit for its third quarter, beating analysts' expectations.

The Jacksonville, Fla.-based company reported a net income of $894 million, or $1.05 a share, in the third quarter, compared to $459 million, or $0.51 a share, it earned in the same period a year ago.

CSX's revenue increased 14% to $3.13 billion, boosted by volume growth, increases in fuel recovery, favorable mix, higher supplemental revenue and pricing gains. Expenses for the company have also declined 2% year over year.

Analysts polled by Refinitiv were expecting earnings of $0.94 a share and revenue of $3.05 billion.

Shares of CSX rose 1.89% to $72.20 Tuesday and are up about 30% year to date. In after-hours trading, the stock increased about 2.5%.

Write to Patrick Thomas at Patrick.Thomas@wsj.com

(END) Dow Jones Newswires

October 17, 2018 02:47 ET (06:47 GMT)

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