CSX Likely to Post Lower 3Q Profit -- Earnings Preview
October 15 2019 - 7:46PM
Dow Jones News
By Kimberly Chin
CSX Corp. (CSX) is scheduled to report results for its fiscal
third quarter postmarket on Wednesday. Here's what you need to
know:
EARNINGS FORECAST: Analysts on average expect profit on a
reported and adjusted basis of $1.01 a share, according to a
FactSet poll. The company will hold its investor call at 4:30 p.m.
ET.
REVENUE FORECAST: Analysts expect $2.98 billion, per FactSet,
compared with the $3.31 billion the company reported a year
earlier. In July, CSX cut its sales target for the year, citing
greater economic uncertainty and a recent shutdown of a customer
that will hurt its crude-by-rail shipments. The company expects
revenue to fall as much as 2% this year.
WHAT TO WATCH:
SHIPPING VOLUMES: Railroads in the U.S. have been grappling with
the fallout from trade tensions between the U.S. and China as well
as weakening in parts of the industrial economy. This has weighed
on shipping volumes for its industrial customers, which have
remained weak in past quarters.
MERCHANDISE SALES: The company reported growth in its
merchandise unit, its biggest segment by sales, last quarter, where
it offers shipping of products like food, chemicals, minerals and
metals. Analysts project sales from its merchandise unit to be
$1.89 billion.
Write to Kimberly Chin at kimberly.chin@wsj.com
(END) Dow Jones Newswires
October 15, 2019 19:31 ET (23:31 GMT)
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