Quantcast


Last updated: October 16. 2013 10:37AM - 258 Views
Associated Press



Story Tools:

Font Size:

Social Media:

(AP) CSX Corp. remains optimistic the railroad will be able to improve profits over the next two years even though coal demand has remained stubbornly weak.


Officials at the Jacksonville, Fla.-based railroad said Wednesday that shipments of intermodal containers and merchandise will continue to be a larger part of their business as coal demand shrinks.


CSX officials say they expect the economy to continue growing slowly next year, driving much of the growth in its shipments. The railroad has seen robust growth in shipments of crude oil and products related to housing construction.


CSX said Tuesday its third-quarter net income rose 2 percent to $463 million, or 46 cents per share, as revenue rose 4 percent to nearly $3 billion. That beat Wall Street expectations.


Associated Press
Comments
comments powered by Disqus



Featured Businesses


Poll



Info Minute



Gas Prices

Wilkes-Barre Gas Prices provided by GasBuddy.com