CSX Corporation (CSX, Financial), a major player in the U.S. railroad industry, saw its stock price fall by over 3.3% to $32.545. The decline came after the company released its fourth-quarter financial results, which fell short of market expectations.
CSX reported revenues of $3.54 billion, marking a 4% year-over-year decrease. This figure was below the anticipated $3.59 billion. The decrease was attributed to lower fuel surcharge income and reduced coal business revenues.
In terms of profitability, CSX's net earnings were $733 million, representing a 17% drop compared to the previous year. Earnings per share (EPS) also decreased to $0.38, down from $0.45 in the same period last year, and below the market expectation of $0.44.
