CSX 3Q Profit Rose as Sales Increased, Quality Carrier Purchase Included

By Jeffrey T. Lewis

CSX Corp. said Wednesday its profit increased in the third quarter as sales increased across all of the railway operator's business lines and the company included Quality Carriers' results in its numbers.

The Jacksonville, Fla.-based transportation company reported net income of $968 million, up from $736 million in the third quarter of 2020. Earnings per share reached 43 cents from 32 cents a year earlier.

CSX reported revenue rose 24% in the third quarter from a year earlier to $3.29 billion and said the company's operating income improved 26% to $1.44 billion in the quarter.

CSX completed the purchase of Quality Carrier, a bulk liquid chemicals transporter, during the quarter, giving the railway company a broader network and access to new products and markets. CSX didn't reveal the financial terms of the acquisition.

Write to Jeffrey T. Lewis at jeffrey.lewis@wsj.com

(END) Dow Jones Newswires

October 20, 2021 16:33 ET (20:33 GMT)

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