CSX 3Q profit up 15% as railroad hauls 2% more freight

By JOSH FUNK
AP Business Writer

OMAHA, Neb. (AP) — CSX has delivered 15% more profit in the third quarter. The railroad handled 2% more freight and worked to eliminate the delays shippers have been complaining about for months. The Florida-based railroad said Thursday that it earned $1.11 billion in the three month period that ended September 30. That amounted to 52 cents a share, beating Wall Street expectations for 49 cents a share. The numbers include a $42 million charge stemming from contracts railroads recently negotiated with their unions including 24% raises and $5,000 in bonuses that will cost CSX more than it planned.