CSX railroad’s Q4 profit jumps 23% even though volume slips

Published January 20, 2022 3:21 PM

By JOSH FUNK
AP Business Writer

OMAHA, Neb. (AP) — CSX railroad’s fourth-quarter profit jumped 23% even though volume slipped amid the ongoing supply chain challenges. The Jacksonville, Florida-based railroad said Thursday it earned $934 million, or 42 cents per share. That’s up from $760 million, or 33 cents per share, a year earlier. CSX said the number of shipments it delivered declined 2% as auto production remained weak because of the shortage of computer chips but demand for most industrial shipments remained strong and the railroad delivered nearly the same number of containers of imported goods as it did the previous year. The results beat Wall Street expectations.