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10777CSX

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  • Stephen G. Myers
    Jan 27, 2005
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      CSX improvement reflects higher rates
      Rate increases helped propel CSX to improved earnings in last year's
      final quarter. Net earnings from continuing operations were $159 million,
      up 42% from the 2003 quarter. Surface transportation (rail and
      intermodal) operating income was $315 million, up 32%. The operating
      ratio was 85.0%, an improvement of 1.8 points. An 8.4% increase in
      revenue was produced by a 0.5% increase in volume and a 7.9% increase in
      revenue per carload.

      CSX Chairman, President, and CEO Michael J. Ward commented: "In the
      fourth quarter, the rail network showed signs of improving fluidity as
      the company worked to fine-tune the new operating plan that was put in
      place in the third quarter. The leadership of CSX remains optimistic
      about the operating plan and the opportunity it holds for the company
      going forward."
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