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Aaron Spatz is the writer of SEC Live Filings Digest, detailing the news of companies trading on U.S. stock exchanges. The Filings Digest is but one component of the greater website SEC Live, which specializes in making SEC filings easy to read, research, navigate, and much more.
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  • CSX Profit Drops 14% 0 comments
    Apr 16, 2014 11:33 AM | about stocks: CSX

    Originally published at www.seclive.com

    Filing in Focus: CSX 8-K, April 15, 2014

    CSX Corp. (NYSE:CSX) announced its financial results for the first quarter of the 2014 fiscal year, posting a 14% drop in profit. The Florida-based railroad company posted earnings that exceeded analyst expectations of $0.39 per share with $398M and $0.40 per share, down from $462M and $0.45 per share in the year ago quarter. Revenue improved 2% to $3.01B, beating analyst expectations, with freight volumes increasing 3%. CEO Michael Ward remarked that severe weather had a $0.08 to $0.09 per share impact on earnings due to increased expenses and a loss of revenue. Analysts were pleased with the company's results, with one stating that if the weather had been better the company would have had a tremendous quarter. Analysts assert that the severe winter weather has made it difficult for investors to truly assess a company's performance.

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

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