CSX Corporation’s (CSX - Free Report) first-quarter 2022 earnings of 39 cents per share beat the Zacks Consensus Estimate by a penny despite the decrease in overall volumes as supply-chain issues continue to hurt results. The bottom line improved 25.81% year over year owing to increased revenues, driven by higher shipping rates.
Total revenues of $3,413 million outperformed the Zacks Consensus Estimate of $3291.2 million. The top line increased 21.33% year over year despite service and hiring-related challenges owing to strong pricing and higher fuel surcharge. The 24% increase in overall revenue per unit more than offset the 2% volume contraction.
The top and the bottom-line beat despite the challenges pleased investors. As a result, the stock gained in after-hours trading on Apr 20 following the earnings report.
First-quarter operating income climbed 6% to $1,282 million. Operating ratio (operating expenses as a percentage of revenues) deteriorated to 62.4% from 60.9% in the prior-year quarter, with operating expenses increasing 24% year over year, mainly due to the 74% rise in fuel expenses. With respect to this metric, lower the value, the better.
5 Stocks Set to Double
Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Today, See These 5 Potential Home Runs >>
CSX Corporation’s (CSX - Free Report) first-quarter 2022 earnings of 39 cents per share beat the Zacks Consensus Estimate by a penny despite the decrease in overall volumes as supply-chain issues continue to hurt results. The bottom line improved 25.81% year over year owing to increased revenues, driven by higher shipping rates.
Total revenues of $3,413 million outperformed the Zacks Consensus Estimate of $3291.2 million. The top line increased 21.33% year over year despite service and hiring-related challenges owing to strong pricing and higher fuel surcharge. The 24% increase in overall revenue per unit more than offset the 2% volume contraction.
The top and the bottom-line beat despite the challenges pleased investors. As a result, the stock gained in after-hours trading on Apr 20 following the earnings report.
First-quarter operating income climbed 6% to $1,282 million. Operating ratio (operating expenses as a percentage of revenues) deteriorated to 62.4% from 60.9% in the prior-year quarter, with operating expenses increasing 24% year over year, mainly due to the 74% rise in fuel expenses. With respect to this metric, lower the value, the better.
5 Stocks Set to Double
Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Today, See These 5 Potential Home Runs >>
Get the latest research report on CSX - FREE
Get the latest research report on DAL - FREE
Get the latest research report on JBHT - FREE