CSX experiences a drop in Q3 income, but are better times ahead?

Filed under: Earnings reports, Burlington Northern Santa Fe (BNI), Norfolk Southern Corp. (NSC), Union Pacific Corporation (UNP)

CSX (NYSE: CSX), a railway entity similar to companies such as Burlington Northern Santa Fe Corp. (NYSE: BNI), Norfolk Southern Corp. (NYSE: NSC), and Union Pacific Corp. (NYSE: UNP), saw a nice bid during Tuesday's after-hours session. The market enjoyed CSX's Q3 earnings report so much it sent shares of the company higher by 2.6%.

What was so good about the data? According to TheStreet.com, CSX made 74 cents per share from continuing operations. The analyst community was counting on 71 cents per share. Perhaps more importantly, management seemed pretty upbeat on the state of the economy. Like a lot of other pundits, CEO Michael Ward thinks that the recession will eventually start to wane, and that we may have already experienced the bottom of the cycle.

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CSX experiences a drop in Q3 income, but are better times ahead? originally appeared on BloggingStocks on Wed, 14 Oct 2009 09:00:00 EST. Please see our terms for use of feeds.

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