By Ellen Schneider, Reporter, Jacksonville Business Journal; October 17, 2019
Despite CSX Corp.’s revenue falling 5 percent in the third quarter, a corresponding reduction in expenses — and a drop in the number of outstanding shares — enabled the Jacksonville-based railroad to increase earnings per share by 3 cents.
Net earnings for the quarter came in at $856 million and $1.08 per share, compared to $894 million and $1.05 per share in the third quarter of 2018. Revenue in the third quarter came in at $2.98 billion versus $3.13 billion in the year-ago quarter. Operating income remained flat at $1.29 million.
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