CSX 3Q Profit Rose as Sales Increased, Quality Carrier Purchase Included
21 October 2021 - 7:48AM
Dow Jones News
By Jeffrey T. Lewis
CSX Corp. said Wednesday its profit increased in the third
quarter as sales increased across all of the railway operator's
business lines and the company included Quality Carriers' results
in its numbers.
The Jacksonville, Fla.-based transportation company reported net
income of $968 million, up from $736 million in the third quarter
of 2020. Earnings per share reached 43 cents from 32 cents a year
earlier.
CSX reported revenue rose 24% in the third quarter from a year
earlier to $3.29 billion and said the company's operating income
improved 26% to $1.44 billion in the quarter.
CSX completed the purchase of Quality Carrier, a bulk liquid
chemicals transporter, during the quarter, giving the railway
company a broader network and access to new products and markets.
CSX didn't reveal the financial terms of the acquisition.
Write to Jeffrey T. Lewis at jeffrey.lewis@wsj.com
(END) Dow Jones Newswires
October 20, 2021 16:33 ET (20:33 GMT)
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