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.
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