|
|
Article: Hampton Roads/nation.(Front)
- Article from:
- The Virginian-Pilot (Norfolk, VA)
- Article date:
- July 14, 2009
CopyrightCOPYRIGHT 2009 The Virginian Pilot-Ledger Star. All rights reserved. Reproduced with the permission of the Dialog Corporation by Gale Group. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Profit declines 20 percent for CSX
Railroad operator CSX said Monday that second-quarter earnings fell 20 percent as it collected fewer fuel surcharges and shipments continued to drop. The results topped Wall Street's expectations, as the company slashed expenses by 27 percent. The Jacksonville, Fla.-based company said it earned $308 million compared with $385 million last year. Excluding charges related to the money-losing Greenbrier resort the company sold, earnings from continuing operations were 72 cents per share versus 95 cents per share last year. Revenue fell 25 percent to $2.19 billion.
CSX's shipping volume fell 21 percent in the period, ...