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CSX fiscal Q1 profit climbs 18.5% YOY

CSX Corp. said its normalized net income for the fiscal first quarter ended March 27 came to 45 cents per share, compared with the S&P Capital IQ consensus estimate of 44 cents per share.

EPS increased 20.4% year over year from 38 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $448.8 million, an increase of 18.5% from $378.8 million in the prior-year period.

The normalized profit margin rose to 14.8% from 12.6% in the year-earlier period.

Total revenue totaled $3.03 billion, compared with $3.01 billion in the year-earlier period, and total operating expenses decreased on an annual basis to $2.18 billion from $2.27 billion.

Reported net income grew 10.7% on an annual basis to $446.4 million, or 45 cents per share, from $403.2 million, or 39 cents per share.