After the market closed today, CSX Corporation (NYSE:CSX) revealed its earnings report for the three month through the end of June 2013. The company showed earnings of $0.52 per share for the three months period, on revenue of $3.1 billion. On today’s market shares in CSX Corporation (NYSE:CSX) trended up to finish the day at $24.64.
Analysts following the railway company were looking for quarterly earnings of 47 cents per share on revenue of $3 billion. In the same quarter of 2012, which CSX Corporation (NYSE:CSX) records as its second fiscal quarter, the company earned 49 cents per share on revenue of $3 billion. The company had managed to beat expectations for five quarters running before the release of today’s earnings report.
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In the last twelve months shares in CSX Corporation have increased by just over 9 percent. The company made up for some of its lackluster 2012 performance in the early parts of this year, however. Since January 1, the value of the company has increased by more than 23 percent. There is an argument to be made for the value of CSX Corporation (NYSE:CSX), and it appears to be one many are buying into in 2013.
2012 was a poor year for transport railway. Luckily for CSX shareholders, 2013 is looking like a much better year for freight. CSX Corporation (NYSE:CSX) is in a position to take advantage of trends in the industry but its stock performance is still behind some of its big competitors.
CSX Corporation not the best performer in rail
Lets take a quick look at the gains made by other freight railway company’s gains from the start of 2013. Union Pacific Corporation (NYSE:UNP) shareholders have seen stock increase by more than 27 percent in the period and Kansas City Southern (NYSE:KSU) has gained over 36 percent.
Some of the other firms in the field have performed more or less in line with CSX Corporation (NYSE:CSX) and many have done substantially worse. As an equity, CSX has been middle of the road in rail so far in 2013.
CSX executives will not hold a conference call to discuss these results until 8:30 A.M. EST tomorrow morning, July 17. Investors will be anxious to hear what the firm’s plans are for the rest of the year, and an explanation of the numbers in the report.