CSX Reports 13% Drop in 4Q Profit Despite Increased Freight Volume

Despite a decline in profit, the railroad company anticipates growth in volume and revenue in 2024, backed by strong pricing and improved efficiency.

CSX's fourth quarter profit slipped 13%, but the railroad reported hauling slightly more freight and kept its trains running smoothly.
The Jacksonville, Florida-based railroad earned $886 million, or 45 cents per share, during the quarter.
The volume of shipments the railroad delivered was up 1% despite economic uncertainty, while it posted the best service performance in the industry.
CSX predicted that volume and revenue will both be up by the low to mid single digits this year, and the railroad should be solidly profitable thanks to strong pricing, improving efficiency and lower inflation.
CSX's quarterly revenue declined 1% to $3.68 billion, but this was above the $3.63 billion that analysts predicted.