CSX’s Profit Rose 5.6 Percent in 2012

CSX’s Profit Rose 5.6 Percent in 2012

Jacksonville, Fla.-based Class I railroad CSX today reported its income in the fourth quarter of 2012 was $443 million, falling 3.1 percent compared with $457 million in the fourth quarter of 2011.

Quarterly revenue declined 2 percent year-over-year to $2.9 billion. Gains in merchandise and intermodal shipments were “more than offset” by declines in coal resulting from low natural gas prices, high coal inventory at utilities and lower global demand, the company said in a written statement.

For the full year of 2012, however, profit was $1.9 billion, up 5.6 percent from $1.8 billion in 2011.