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Story summary
- CSX reported a 25% profit increase in Q1, earning $807 million ($0.43 per share).
- The railroad cut operating expenses 6% to $2.2 billion and booked a $44 million real-estate gain.
- Revenue rose 2% to $3.48 billion, surpassing analysts’ $0.39 earnings-per-share forecast.
- CEO Steve Angel said the cost-cutting measures are delivering results faster than expected.
- CSX expects mid-single-digit revenue growth this year after completing a Baltimore tunnel renovation that will allow two-high container trains.
