CSX Q3 Revenue Down 8% on Weak Intermodal Volumes
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Eastern Class I railroad CSX’s Q3 revenue declined 8% year-over-year on intermodal weakness.
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Revenue missed forecast slightly due to greater-than-expected intermodal declines.
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Core carload pricing remains positive, but total yield fell 6%.
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Consolidated volume down 2% on sluggish international intermodal trends.
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Negatives were tough grain comps, soft forest products, lower chemicals shipments.