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CSX net profit falls 0.04pc to US$507 million as revenue decline 9pc
AMERICAN railway CSX Corporation has posted a 0.04 per cent third quarter net profit decrease to US$507 million, with quarterly revenues falling nine per cent, for which no total figure was provided in the company statement.
"Revenue declined nine per cent in the quarter, as gains in price were more than offset by the combination of lower fuel recovery, a three per cent volume decline and continued transition in CSX's business mix," it said.
The Jacksonville based company reported $933 million in operating profit.
"CSX's third quarter results demonstrate the company's ability to leverage improving service while controlling costs where commodity prices and the strength of the dollar are challenging many," said CSX chairman and CEO Michael Ward."
"Revenue declined nine per cent in the quarter, as gains in price were more than offset by the combination of lower fuel recovery, a three per cent volume decline and continued transition in CSX's business mix," it said.
The Jacksonville based company reported $933 million in operating profit.
"CSX's third quarter results demonstrate the company's ability to leverage improving service while controlling costs where commodity prices and the strength of the dollar are challenging many," said CSX chairman and CEO Michael Ward."
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