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.
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