CSX 3Q profit jumps
OMAHA, Neb. — CSX delivered a 32% jump in third-quarter profit as the volume of goods it hauled increased even beyond last fall’s strong level.
The Jacksonville, Fla.-based railroad said Wednesday that it made $968 million, or 43 cents per share, in the quarter. That’s up from $736 million, or 32 cents per share, a year ago.
Shipping volume was up 3% overall across CSX’s network. That came despite a 26% drop in automotive shipments as that industry struggles to maintain production because of the ongoing chip shortages. Agricultural shipments also slipped 5% but every other category of shipments was up in the quarter.