CSX (CSX) +0.9% AH after Q1 earnings fell 14% Y/Y, caused largely by harsh winter weather across much of its railroad network, but beat expectations, and revenue rose 2% to $3.01B as it hauled 3% more freight.
CSX says the early 2014 weather difficulties cost it $0.08-$0.09/share in increased expenses and lost revenue.
Coal volume declined 1%, intermodal shipments rose 5%, and merchandise volume added 2%, driven by growth in agricultural products and chemicals shipments.
Expects modest FY 2014 earnings growth on the strength of broad-based merchandise and intermodal gains and an improving domestic coal environment.
Approves a 7% increase in the quarterly dividend to $0.16/share.