Summary Box: CSX 2Q earnings rise

AP News
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Posted: Jul 19, 2011 5:07 PM
Summary Box: CSX 2Q earnings rise

2Q'S THE CHARM: CSX said Tuesday its second-quarter earnings rose 22 percent as the railroad compensated for slow volume growth with higher prices.

BOTTOM LINE: CSX Corp. earned $506 million, or 46 cents per share, compared with $414 million, or 36 cents per share a year earlier. Revenue rose 13 percent to $3.02 billion.

THE STRENGTH: Shipping volume rose slightly in most segments, as revenue rose by double digits for nearly all carloads. Shipments of forest products like lumber and paper, as well as transfers between trucks and trains, improved the most. Volume in both categories rose by 8 percent.