CSX shares jumped 5.6% after the freight rail services provider reported better-than-expected second-quarter financial results. The company posted earnings of $0.54 per share, beating consensus estimates of $0.52, while revenue reached $3.94 billion, a 10.1% increase from the previous year and above forecasts of $3.90 billion. Total sales volume rose 6.1% year on year to 1.68 million units, and the operating margin improved by 240 basis points to 38.3%. Free cash flow turned positive at $687 million compared to negative $115 million in the same quarter last year. The shares closed at $52.82, up 5.8% from the previous close.
CSX CorporationCSX reported better-than-expected Q2 earnings, revenue, and operating margin, beating estimates.