CSX Corp. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 27, 2013
January 15, 2014 at 09:10 pm
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CSX Corp. reported unaudited consolidated earnings results for the fourth quarter and year ended December 27, 2013. For the quarter, the company recorded revenue was $3,032 million compared to $2,895 million for the same period a year ago. Operating income was $813 million compared to $815 million for the same period a year ago. Earnings before income taxes were $674 million compared to $729 million for the same period a year ago. Net earnings were $426 million or $0.42 per diluted per share compared to $449 million or $0.44 per diluted per share for the same period a year ago. Fourth-quarter revenue increased 5% driven by broad-based strength in the company's merchandise and intermodal markets. Operations were resilient in the quarter, despite increased volume and challenging winter weather at the end of the quarter. However, the cycling of prior year real estate gains contributed to operating income that was essentially unchanged at $813 million.
For the year, the company recorded revenue was $12,026 million compared to $11,763 million for the same period a year ago. Operating income was $3,473 million compared to $3,464 million for the same period a year ago. Earnings before income taxes were $2,922 million compared to $2,971 million for the same period a year ago. Net earnings were $1,864 million or $1.83 per diluted per share compared to $1,863 million or $1.79 per diluted per share for the same period a year ago. Net cash provided by operating activities was $3,267 million compared to $2,946 million for the same period a year ago. Property additions were $2,313 million compared to $2,341 million for the same period a year ago.
CSX Corporation is specialized in the railroad transport services. Net sales break down by activity as follows:
- railroad transport services (76%): transport of chemicals (23.3% of net sales), coal (19.222.3%), agricultural products (14.9%), vehicles (11%), forest products (9.1%), metals (8.2%), minerals (6.6%), phosphates and fertilizers (4.6%);
- intermodal transport services (14%);
- other (10%).
At the end of 2023, the group operates a network of 57,114 km in the United States and in Canada, and has a fleet of 65,826 cars and 3,569 locomotives.