CSX Corp.'s revenue and net income dropped year over year in the third quarter as the U.S. railroad operator recorded declines in coal and intermodal freight volumes.
The company said its net earnings totaled $856 million in the quarter, down from $894 million in the prior-year period.
On a per-share basis, CSX earned $1.08 in the third quarter, up from $1.05 a year ago. The S&P Global Market Intelligence consensus GAAP EPS estimate for the quarter was $1.02.
Revenue fell 5% to $2.98 billion from $3.13 billion a year earlier. Revenue in the coal and intermodal segments slumped 12% and 11%, respectively, offsetting a 1% growth in merchandise segment revenue.
Coal and intermodal freight volumes both decreased 9% year over year in the third quarter.