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CSX Earnings at All-Time High, Outlook for Coal Weaker

CSX Corp. (NYSE: CSX) reported fiscal third quarter results after markets closed Tuesday. For the quarter, the railroad operator posted diluted earnings per share (EPS) of $0.52 on revenues of $2.94 billion. In the same period a year ago, the company reported EPS of $0.51 on revenues of $3.22 billion. Third-quarter results compare to the Thomson Reuters consensus estimates for EPS of $0.50 EPS and $2.98 billion in revenues.

Pricing gains were more than offset by the combination of lower fuel recovery, a 3% volume decline and continued transition in CSX’s business mix. At the same time, expenses declined 11% on the collective effect of...