CSX Posts Record Q1 Earnings, Boosts Dividend

CSX (NYSE: CSX  ) results for the company's initial quarter of its fiscal 2013 have been released. The firm broke several of its Q1 records, most notably net earnings and EPS. These came in at $459 million and $0.45, respectively, against $449 million and $0.43 in the same period last year. Revenue, meanwhile, was essentially flat over that time span at just under $3.0 billion.

For the most recent quarter, analysts had expected revenue of $2.9 billion and EPS of $0.40.

CSX also announced an increase in its quarterly dividend and a fresh stock repurchase program. The new dividend is $0.15 per share, payable on June 14 to shareholders of record as of May 31. That amount represents an increase of 7%, or $0.01, over the previous distribution. The buyback program amounts to $1 billion, is effective immediately, and is anticipated to be completed within the next two years.


Read/Post Comments (0) | Recommend This Article (1)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2366949, ~/Articles/ArticleHandler.aspx, 11/26/2014 3:37:03 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...


Advertisement