Stock Earnings Alert: CSX Corp. (NASDAQ:CSX)

CSX Corp. (NASDAQ:CSX) reported earnings for the three months ended Mar2016 on April 12, 2016. The company earned $0.37 per share on revenue of $2.62B. Analysts had been modeling earning per share of $0.37 with $2.68B in revenue.

CSX Corp. (CSX) on April 12, 2016 announced first quarter 2016 net earnings of $356 million, or $0.37 per share, down from $442 million, or $0.45 per share, in the same period of last year.

“As we managed through the impact of the continued coal decline and other market forces during the first quarter, CSX took aggressive actions to improve efficiency, reduce costs and streamline resources across the network to further reshape the company,” said Michael J. Ward, chairman and chief executive officer.

Revenue for the quarter declined 14 percent, reflecting lower fuel recovery, a 5 percent volume decline and a $95 million year-over-year decline in other revenue related to payments received in 2015 from customers that did not meet their minimum volume commitments. These impacts more than offset pricing gains across nearly all markets from an improving service product and volume growth in automotive, intermodal, minerals and waste and equipment.

“While CSX delivered strong efficiency gains in the first quarter, we continue to expect full-year earnings per share to decline in 2016 as a result of ongoing coal headwinds combined with other market fundamentals,” said Ward. “At the same time, CSX remains focused on meeting and exceeding customer expectations while driving further efficiency savings to maximize shareholder value and achieve a mid-60s operating ratio longer term.”

CSX Corp. earnings per share showed an increasing trend of 4% for the current fiscal year. The company’s expected EPS growth rate for next fiscal year is 194%.Analysts project EPS growth over the next 5 years at 4.77%. It has EPS annual growth over the past 5 fiscal years of 8.1% when sales grew 2.1. It reported -13.5% sales drop, and -17% EPS decline in the last quarter.

The stock is trading at $26.43, up 25.7% from 52-week low of $21.33. The stock trades down -23.84% from its peak of $35.67 and 4.84% above the consensus price target of $27.71. Its volume clocked up at 8.63 million shares which is lower than the average volume of 8.63 million shares. Its market capitalization currently stands at $24.75B.