CSX 3Q railroad profit jumps 32% as volume grows 3%

Published October 20, 2021 3:14 PM

By JOSH FUNK
AP Business Writer

OMAHA, Neb. (AP) — CSX delivered a 32% jump in third-quarter profit as the volume of goods it hauled rose even beyond last fall’s strong level. The Jacksonville, Florida-based railroad said Wednesday that it made $968 million, or 43 cents per share, in the quarter. That’s up from $736 million, or 32 cents per share, a year ago. Shipping volume was up 3% overall across CSX’s network. That’s even with the 26% drop in automotive shipments as that industry continues to struggle to maintain production because of the ongoing chip shortages. The railroad said it is working to clear up supply chain bottlenecks that have delayed shipments nationwide.