CSX CSX Corporation

By Mary de Wet

CSX Corp. (CSX), a freight rail operator, saw its full-year merchandise volume fall 4% while its profit for the year rose 1%. Here's what the company had to say about the commodities it carried.

Coal

"Domestic coal declined primarily due to lower shipments of utility coal as a result of continued competition from natural gas. Export coal declined due to lower international shipments of both thermal and metallurgical coal as global benchmark prices declined," the company said.

CSX's total coal volume fell 6% in 2019 to 94.8 million tons.

Ethanol

CSX's agricultural and food product shipment volume for the full year rose 5% to 469,000 units. The company said the increase was mainly due to gains in ethanol, as well as sweeteners and oils.

Metals

The company saw reduced metals shipments, primarily in the steel, construction and scrap markets. As a result, its metals and equipment volume fell 7% for the year to 248,000 units.

Write to Mary de Wet at mary.dewet@dowjones.com

(END) Dow Jones Newswires

January 16, 2020 17:05 ET (22:05 GMT)

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