CSX third-quarter profit, revenue up, topping forecasts

14/10/2014 - 21:24

CHICAGO (Reuters) - No. 3 U.S. railroad CSX Corp on Tuesday reported third-quarter profit that rose from a year earlier, beating forecasts, driven by a 7 percent increase in freight volumes across most of its markets as the U.S. economy continued to grow.

CSX (CSX.NY)reported earnings per share of 51 cents, up from 45 cents a year ago and beating the 48 cents expected by Wall Street analysts. Revenue for the quarter rose 8 percent from a year earlier to $3.2 billion, above the $3.15 billion analysts had forecast.

The Jacksonville, Florida-based company said it expects modest earnings growth for the full year, but anticipates double-digit growth in 2015.

(Reporting by Nick Carey; Editing by David Gregorio)