Investing.com -- CSX (NASDAQ:CSX) reported third quarter earnings that beat analysts' forecasts and revenue that topped expectations.
CSX announced earnings per share of 52 cents on revenue of $3.90 billion. Analysts polled by Investing.com anticipated EPS of 50 cents on revenue of $3.75 billion.
CSX shares rose 3% in after-hours trading. They are down 27% from the beginning of the year, and down 29.90% from its 52-week high of $38.63 set on March 7.
Revenue was up 18% from last year. Operating income was up 10%. The company said "third quarter results include additional labor and fringe expense related to tentative union agreements, with $42 million specifically to adjust for wage, bonus, and other benefit costs in prior periods."
CSX follows other major Industrials sector earnings this month
CSX's report follows an earnings beat by Union Pacific, which reported EPS of $3.19 on revenue of $6.57 billion, compared to forecasts EPS of $3.08 on revenue of $6.44 billion.
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