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More on CSX's Q3 results: The railroad blames the 1.9% drop in earnings on slumping demand for...

More on CSX's Q3 results: The railroad blames the 1.9% drop in earnings on slumping demand for coal by electric utilities. Coal shipments fell 16% Y/Y, vs. 14% declines in both Q1 and Q2. Coal has accounted for ~20% of CSX's total volume and nearly 28% of revenue YTD. Total Q3 shipment volume fell 1.2%, although the figure would have been up ~3.5% aside from coal. CSX +1.2% AH.
Comments (4)
  • I like CSX... Despite Jim C... If nat gas draws down well because of the cold fall, coal ships better and CSX goes higher... Added more today
    16 Oct 2012, 10:14 PM Reply Like
  • Coal shipments are supposedly going back up, but have not seen any figures on how much.
    16 Oct 2012, 11:32 PM Reply Like
  • watch nat gas pricing.. if it goes back to even 80% of normal, BTU and CSX should climb higher as demand from energy producers will accelerate!
    18 Oct 2012, 10:53 AM Reply Like
  • bot some csx this morning at 20.65.

     

    I like buying good companies when everyone hates them,like today.
    17 Oct 2012, 09:39 AM Reply Like
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