CSX projects that its earnings per share for the fourth quarter of 2016 will be flat to slightly up.
Although some of the factors that have worked against the carrier’s financial health are moderating, Lonegro said, “At the same time, a recent operating property sale will now offset the impact of a debt refinancing charge announced earlier in the quarter.”
In a news release, CSX said that quarter-to-date volume has declined 3 percent overall, and many markets are showing more moderate declines than in previous quarters.
In particular, coal traffic is showing sequential volume stabilization and is essentially flat to date.
Volume is now expected to decline in the low-to-mid single digit range on a comparable 13-week basis.