CSX Q3 Results: Lower Operating Expenses Offset Impact Of Lower Shipments & Fuel Surcharge Revenues |
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October 16, 2015 |
October 2015 Bond Updates
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Lower fuel expenses and the company’s initiatives to improve operating efficiency helped offset the impact of lower fuel surcharge revenues and lower shipments on the company’s bottom line. CSX’s net income stood at $507 million in Q3 2015, which matched the figure of $509 million reported in the corresponding period last year, despite a 9% year-over-year decline in revenues in Q3 2015. Lower fuel surcharge revenues and shipment volumes offset the gains in core pricing to lower CSX’s quarterly revenues to $2.94 billion. The key takeaway from the earnings conference call was the management’s commitment towards controlling expenses in a challenging business environment.
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View more at: http://www.forbes.com/sites/greatspeculations/2015/10/15/csx-q3-results-lower-operating-expenses-offset-impact-of-lower-shipments-fuel-surcharge-revenues/
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