CSX Likely to Post Lower 3Q Profit -- Earnings Preview

Date : 10/15/2019 @ 11:46PM
Source : Dow Jones News
Stock : CSX Corporation (CSX)
Quote : 73.9  0.0 (0.00%) @ 12:00AM
After Hours
Last Trade
Last $ 73.15 ▼ -0.75 (-1.01%)

CSX Likely to Post Lower 3Q Profit -- Earnings Preview

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By Kimberly Chin


CSX Corp. (CSX) is scheduled to report results for its fiscal third quarter postmarket on Wednesday. Here's what you need to know:

EARNINGS FORECAST: Analysts on average expect profit on a reported and adjusted basis of $1.01 a share, according to a FactSet poll. The company will hold its investor call at 4:30 p.m. ET.

REVENUE FORECAST: Analysts expect $2.98 billion, per FactSet, compared with the $3.31 billion the company reported a year earlier. In July, CSX cut its sales target for the year, citing greater economic uncertainty and a recent shutdown of a customer that will hurt its crude-by-rail shipments. The company expects revenue to fall as much as 2% this year.


SHIPPING VOLUMES: Railroads in the U.S. have been grappling with the fallout from trade tensions between the U.S. and China as well as weakening in parts of the industrial economy. This has weighed on shipping volumes for its industrial customers, which have remained weak in past quarters.

MERCHANDISE SALES: The company reported growth in its merchandise unit, its biggest segment by sales, last quarter, where it offers shipping of products like food, chemicals, minerals and metals. Analysts project sales from its merchandise unit to be $1.89 billion.


Write to Kimberly Chin at kimberly.chin@wsj.com


(END) Dow Jones Newswires

October 15, 2019 19:31 ET (23:31 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

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