By Dean Seal

CSX's earnings and revenue were lower in the fourth quarter than they were a year ago as lower fuel and coal prices more than offset the freight railroad's higher volumes.

The Jacksonville, Fla.-based railroad that operates in much of the Eastern U.S. posted a profit of $886 million, compared with $1.02 billion in the same quarter a year ago.

Quarterly earnings were 45 cents a share, down from 49 cents a share last year, but above analyst forecasts for 44 cents a share, according to FactSet.

Revenue fell 1% to $3.68 billion. Analysts polled by FactSet had been expecting $3.63 billion.

Total volume rose 1% during the quarter to 1.56 million units, with 3% volume gains among merchandise and coal while intermodal volume was flat.

The volume growth wasn't able to offset a drop in intermodal storage revenue, lower fuel surcharge, declining trucking revenue and the impact of lower global benchmark coal prices.

Write to Dean Seal at dean.seal@wsj.com

(END) Dow Jones Newswires

January 24, 2024 16:31 ET (21:31 GMT)

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