CSX reported near double-digit top-line growth for their fourth quarter after the closing bell on Wednesday. CSX’s volume and pricing strength led to mid- to high-single-digit revenue growth in a number of freight categories, including chemicals, automotive, forest products and coal. However, CSX told investors to expect low-single-digit revenue growth in 2019, a 7% decrease from 2018.
CSX is in an “unfamiliar position,” as Wednesday’s earnings report did not consist of its typical big beat and management’s tone during the conference was void of any “swagger,” Shanker said in a Thursday note.
CSX said it can’t identify any trend in its business
Add your Scripsio!
Comments