LONDON, April 27, 2015 /PRNewswire/ --
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Investor-Edge.com has issued free earnings review on CSX Corp. (NYSE: CSX). On April 14, 2015, the company announced its financial results for Q1 FY15 (period ended March 27, 2015). Click on http://get.Investor-Edge.com/pdf/?c=CSX%20Corp.&d=27-Apr-2015&s=CSX to read our free earnings review on CSX Corp. (CSX Corp.). During Q1 FY15, the company's operating income grew 14% Y-o-Y. CSX also reported net earnings and net earnings per diluted share growth of 11% Y-o-Y and 13% Y-o-Y, respectively, in Q1 FY15. Our free coverage report can be accessed at:
http://get.Investor-Edge.com/pdf/?c=CSX%20Corp.&d=27-Apr-2015&s=CSX
Earnings Overview
During Q1 FY15, CSX's revenues increased to $3.03 billion from $3.01 billion in Q1 FY14, driven by growth across many of its markets and an improved pricing environment, but partially offset by the impact of low natural gas prices, lower fuel recoveries and a strong U.S. dollar. The company's revenues for Q1 FY15 outperformed Bloomberg analysts' forecast of $3.02 billion. Total Merchandise revenues improved to $1.81 billion in Q1 FY15 from $1.79 billion in Q1 FY14. In Q1 FY15, CSX's Coal revenues came in at $638 million compared to $662 million in Q1 FY14; its Intermodal segment recorded revenues of $415 million compared to $421 million in Q1 FY14; and its other revenues were $165 million compared to $142 million in Q1 FY14.
CSX's Total Merchandise volume for Q1 FY15 grew 2% to 691,000 units from 680,000 units in Q1 FY14. The company's Intermodal volumes for Q1 FY15 improved 1% to 655,000 units from 647,000 units in Q1 FY14. However, Coal volumes fell 1% to 289,000 units in Q1 FY15 from 293,000 units in Q1 FY14. Free research on CSX can be downloaded in PDF format at:
http://get.Investor-Edge.com/pdf/?c=CSX%20Corp.&d=27-Apr-2015&s=CSX
For Q1 FY15, CSX reported total expenses of $2.18 billion, down 4% from total expenses of $2.27 billion in Q1 FY14. Moreover, CSX's operating income rose to $843 million in Q1 FY15 from $739 million in Q1 FY14. The operating ratio for Q1 FY15 came in at 72.2% compared to operating ratio of 75.5% for Q1 FY14. The company's interest expense fell 4% during the reported quarter to $134 million from $140 million in Q1 FY14.
In Q1 FY15, CSX's EBIT grew 17% to $711 million from $606 million in Q1 FY14. The company's net earnings for Q1 FY15 stood at $442 million, or $0.45 per diluted share, compared to $398 million, or $0.40 per diluted share, in Q1 FY14. Analysts from Bloomberg had expected the company's net earnings for Q1 FY15 to be $431 million, or $0.44 per diluted share. Sign up and read the free analyst's notes on CSX at:
http://get.Investor-Edge.com/pdf/?c=CSX%20Corp.&d=27-Apr-2015&s=CSX
Chairman and CEO of CSX, Michael J. Ward, stated that in this dynamic economic and business environment, the company's core earnings remained strong and it is continuing its drive to provide excellent service for its customers and value for its shareholders. The company's commitment and confidence in its future is underscored by the positive shareholder actions CSX is taking today, he added.
CSX's Board of Directors has approved a 13% hike in the quarterly dividends to $0.18 per share, which is payable on June 15, 2015, to shareholders of record at the close of business on May 29, 2015. This is the company's 13th dividend hike in 10 years, representing a 26% compound annual growth rate during that period. The Board also announced a new $2 billion share repurchase program, which is expected to be completed over the next 24 months. The new share repurchase program follows the successful completion of CSX's previous repurchase plan, during which the company bought back $1 billion worth of shares. Additionally, CSX has repurchased nearly $9 billion in shares since 2006. Visit Investor-Edge and access the latest research on CSX at:
http://get.Investor-Edge.com/pdf/?c=CSX%20Corp.&d=27-Apr-2015&s=CSX
Stock Performance
On the day following the earnings release, April 15, 2015, CSX's stock lost 1.05% to end the session at $32.86. Since then, the stock has mostly witnessed a positive momentum. On last close, Friday, April 24, 2015, the company's shares finished at $37.12, which was 0.62% above its previous day's closing price of $36.89. The stock vacillated between $36.27 and $37.20 during the trading session. A total of 11.59 million shares were traded which was above their three months average volume of 8.62 million. The company's shares have advanced 2.46% since the beginning of 2015. Moreover, over the last one month and over the past three months, the company's shares have gained 11.44% and 7.69%, respectively. Shares in CSX closed above their 50-day and 200-day moving averages of $34.36 and $33.63, respectively. Furthermore, the stock traded at a PE ratio of 18.42.
Sneak Peek to Corporate Insider Trading
In the last one month, there was one insider transaction made by one individual. On April 17, 2015, a Director at CSX, Gilbert H. Lamphere disposed 165,556 shares of the company at an average price of $32.38 per share and for a total value of $5.36 million. Complimentary in-depth research on CSX is available at:
http://get.Investor-Edge.com/pdf/?c=CSX%20Corp.&d=27-Apr-2015&s=CSX
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