CSX railroad expects modest 2014 profit growth

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Associated Press

Posted on April 16, 2014 at 9:01 AM

Updated Wednesday, Apr 16 at 9:01 AM

OMAHA, Neb. (AP) — CSX railroad expects to deliver modest profit growth this year, but the impact of the severe winter will linger into the second quarter.

Officials with the railroad said on a conference call Wednesday that the improving economy and stronger domestic utility demand for coal will boost CSX's earnings in the second half of this year and in 2015.

The Jacksonville, Fla.-based railroad had said Tuesday that the harsh winter disrupted shipments and contributed to a 14 percent drop in its first-quarter profit even as it hauled 3 percent more freight.

CSX Corp. stock declined more than 3 percent to $27.40 Wednesday morning.

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