News Summary: CSX profit improves 2 percent in 3Q

AP News
Posted: Oct 15, 2013 6:20 PM

FREIGHT FORTUNES: CSX railroad's quarterly net income grew 2 percent to $463 million, and the results beat Wall Street expectations.

COAL CONCERN: Revenue from coal shipments declined 9 percent to $720 million for CSX. Weak coal demand has been a challenge for all the freight railroads.

SHIPPING SUCCESS: CSX says its other shipments improved enough to offset the coal decline and total revenue grew 4 percent to nearly $3 billion. Shipments of intermodal containers, construction materials and industrial products all improved.