CSX Corporation (CSX) stock soared o.37% in the pre-market trading session at the price of $35.25 despite no fundamental reason. The last reported news was its financial results for the third quarter of 2021.
CSX is a leading transportation corporation. It provides intermodal, rail, and rail-to-truck transload solutions and services to energy, construction, industrial, and agricultural customers.
CSX Third Quarter 2021 Financial Results
On 20th October 2021, CSX announced its financial results for the third quarter of 2021 and provided corporate updates. On 20th October 2021, CSX reported net earnings of $968 million, or per share of $0.43, for the third quarter of 2021. Net earnings were $736 million, or per share of $0.32, for the third quarter of 2020.
Revenue totaled $3.29 billion for the third quarter of 2021. It represents a gain of 24% from the same quarter of 2020. For the third quarter of 2021, operating income grew 26% to $1.44 billion. The operating ratio totaled 56.4% for the third quarter of 2021. The company calculated an operating ratio of 56.9% in the third quarter of 2020.
Management Comments
Chief executive officer of CSX, James M. Foote, thanked all railroaders for their continued devotion toward their customers amidst the ongoing supply chain interruptions and challenges caused by the COVID-19 Delta variant. The company has dedicated itself to serve the clients to overcome supply chain constraints. They will continue to design new solutions to facilitate the delivery of critical goods to Americans, he added.
CSX Achieved Climate Leadership Award
Earlier on 14th October 2021, CSX announced that it was awarded the 2021 Climate Leadership Award by The Climate Registry and The Center for Climate and Energy Solutions. The award had presented in appreciation of the company’s dedication towards mitigating greenhouse gas emissions. The prestigious award has named the company as a sustainability leader among transportation companies all across American markets.
Senior Director of Public Safety, Health, and Environment, Raghu Chatrathi, remarked that CSX is pleased to receive this appreciation. It depicts the dedication and ability of their environmental team and their focus on the emission reduction policies, he added.
