CSX CSX Corporation

By Jeffrey T. Lewis

CSX Corp.'s profit rose in the third quarter from a year earlier, as higher volumes and higher prices boosted revenue.

The Jacksonville, Fla.-based railroad company reported net income of $1.11 billion, compared with $968 million in the third quarter of 2021. Earnings per share reached 52 cents from 43 cents a year earlier.

Operating income rose to $1.58 billion from $1.44 billion. Revenue rose 18% from a year earlier to $3.90 billion, helped by a higher fuel surcharge, pricing gains, a 2% increase in volumes and higher storage and other revenues, the company said.

Sales and profit outperformed market expectations. The consensus, as compiled by FactSet, was for revenue of $3.74 billion and net income of $1.06 billion.

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

(END) Dow Jones Newswires

October 20, 2022 16:32 ET (20:32 GMT)

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