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CSX +3.5% as Q2 earnings beat estimates, adds $500M to buyback

Published 07/18/2017, 04:16 PM
© Reuters.  CSX +3.5% as Q2 earnings beat estimates, adds $500M to buyback
CSX
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  • CSX +3.5% AH after reporting better than expected Q2 earnings and revenues, with growth across nearly all markets that was driven primarily by coal-related gains, strength in core pricing and volume across the other markets, and increased fuel recovery.
  • CSX says it is on track to achieve record efficiency gains and a step-function improvement in its key financial measures for the year given continued economic growth and stable coal markets.
  • CSX reaffirms guidance for FY 2017, seeing EPS +25% to ~$2.26 vs. $2.30 analyst consensus, a full-year operating ratio in the mid-60s and free cash flow before dividends of ~$1.5B.
  • Also, the CSX board authorizes an additional $500M for the current share repurchase program, which now totals $1.5B.
  • Now read: The 'Steve Jobs' of Railroads Could Send This CSX Shares Higher


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