CSX Profit and Revenue Down 2 Percent

CSX Profit and Revenue Down 2 Percent

CSX profit and revenue in the third quarter fell 2 percent year-over-year, driven by overall lower volume levels, a change in the mix of the transportation company’s business and lower fuel economy.

Third quarter profit totaled $455 million, a decline from last year’s $464 million; revenue was $2.89 billion, down from last year’s $2.96 billion.

Coal plunged 16 percent in the quarter, and agricultural products also suffered, slipping 8 percent year-over-year. Intermodal volume rose 8 percent in the third quarter and in the first nine months of 2012. Automotive shipments jumped 17 percent.