Jacksonville-based CSX Corp. on Wednesday reported fourth-quarter earnings of $1.01 a share, up from adjusted earnings of 64 cents last year.
The company's operating ratio (expenses divided by revenue) was 60.3 percent, down from an adjusted ratio of 65.1 percent the previous year. The improvement in operating ratio has been a key part of management's strategy to improve CSX's financial performance.
Revenue rose 10 percent to $3.14 billion, helped by increases in fuel recovery payments and “broad-based” freight volume growth, the railroad company said.
The earnings, released after the market closed, were in line with analysts' forecasts which ranged from 90 cents to $1.07 a share, according to Yahoo Finance.