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CSX 1Q profit dips 8% but railroad sees economy growing

state Florida city Jacksonville, state Florida state Nebraska city Omaha, state Nebraska economy Coronavirus
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OMAHA, Neb. – CSX Corp. said its first-quarter profit declined 8% due to higher expenses, but the railroad said it expects to benefit as the U.S.

economy strengthens further over the rest of the year. The Jacksonville, Florida-based company said Tuesday that it earned $706 million, or 93 cents per share, during the quarter.

That's down from $770 million, of $1 per share, a year ago. The results fell short of Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 95 cents per share.

CSX reiterated that it expects volume to grow this year at a faster pace than the U.S. economy, which is the midst of a recover from the impact of the coronavirus pandemic. “I am pleased to see

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COVID-19
United States
United States
Cases: 46 252 513
Deaths: 750 423
Recovered: 0
India
India
Cases: 34 321 025
Deaths: 459 652
Recovered: 0
Brazil
Brazil
Cases: 21 835 785
Deaths: 608 235
Recovered: 0
United Kingdom
United Kingdom
Cases: 9 215 683
Deaths: 141 607
Recovered: 0
Russia
Russia
Cases: 8 494 589
Deaths: 237 619
Recovered: 0
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