Last $30.91 USD
Change Today +0.14 / 0.45%
Volume 3.5M
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As of 8:04 PM 08/29/14 All times are local (Market data is delayed by at least 15 minutes).

csx corp (CSX) Key Developments

CSX Corp. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 27, 2014; Provides Earnings Guidance for the Third Quarter, Fourth Quarter and Full Year of Fiscal 2014

CSX Corporation announced unaudited consolidated earnings results for the second quarter and six months ended June 27, 2014. For the quarter, the company announced revenue of $3,244 million compared to $3,046 million for the same period a year ago. Operating income was $997 million compared to $940 million for the same period a year ago. Net earnings before income taxes were $850 million compared to $809 million for the same period a year ago. Net earnings were $529 million compared to $521 million for the same period a year ago. Net earnings per common share, assuming dilution were $0.53 compared to $0.51 for the same period a year ago. For the six months, the company announced revenue of $6,256 million compared to $6,009 million for the same period a year ago. Operating income was $1,736 million compared to $1,820 million for the same period a year ago. Net earnings before income taxes were $1,456 million compared to $1,539 million for the same period a year ago. Net earnings were $927 million compared to $983 million for the same period a year ago. Net earnings per common share, assuming dilution were $0.92 compared to $0.96 for the same period a year ago. Net cash provided by operating activities was $1,445 million compared to $1,579 million for the same period a year ago. Property additions were $956 million compared to $1,085 million for the same period a year ago. For the third quarter of 2014, the company expects earnings to be roughly flat versus the prior year as the company cycle $51 million in liquidated damages and tax favorability of $0.01 in EPS, while continuing to incur network performance cost. For the fourth quarter of 2014, The company expects more meaningful earnings growth in the fourth quarter. The company provided earnings guidance for the full year of fiscal 2014. Full-year modest earnings growth still expected for 2014, with double-digit earnings growth, operating ratio in the mid-60s longer term, and margin expansion expected to resume in 2015. The company announced increasing 2014 investment by approximately $100 million to $2.4 billion to support sustainable growth.

CSX Corporation Approves Quarterly Dividend, Payable on September 15, 2014

The board of directors of CSX Corporation approved a $0.16 per share quarterly dividend on the company's common stock. The dividend is payable on September 15, 2014, to shareholders of record at the close of business on August 29, 2014.

CSX Corporation Appoints Brian Hammock as Resident Vice President of Maryland and Delaware State Government Affairs

CSX Corporation announced the appointment of Brian W. Hammock as resident vice president of state government affairs, based in Baltimore, Maryland. Reporting to Bryan M. Rhode, regional vice president, state government and community affairs, Hammock will oversee the company's interactions with executive and legislative branches as well as community officials in Maryland and Delaware. Before joining CSX, Hammock worked as an attorney for Venable, LLP, in Baltimore and served on the board of directors for the Canton Railroad Company.

CSX Corp. to Report Q2, 2014 Results on Jul 15, 2014

CSX Corp. announced that they will report Q2, 2014 results at 5:00 PM, Eastern Standard Time on Jul 15, 2014

CSX Corp., Q2 2014 Earnings Call, Jul 16, 2014

CSX Corp., Q2 2014 Earnings Call, Jul 16, 2014

 

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