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CSX fiscal Q2 profit climbs YOY

CSX Corp. said its normalized net income for the fiscal second quarter ended June 26 came to 56 cents per share, compared with the S&P Capital IQ consensus estimate of 53 cents per share.

EPS climbed 5.8% year over year from 53 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $554.4 million, a gain from $531.3 million in the prior-year period.

The normalized profit margin increased to 18.1% from 16.4% in the year-earlier period.

Total revenue fell 5.5% year over year to $3.06 billion from $3.24 billion, and total operating expenses decreased 8.9% from the prior-year period to $2.05 billion from $2.25 billion.

Reported net income rose on an annual basis to $553.8 million, or 56 cents per share, from $531.6 million, or 53 cents per share.