UPDATE 2-CSX reports Q4 profit below market consensus

(Adds details of results, analyst estimates, sector background)

DETROIT, Jan 12 (Reuters) - U.S. railroad CSX Corp (CSX.N) on Monday reported a lower preliminary fourth-quarter net profit that fell short of market expectations, citing a write-down related to its investment in The Greenbrier resort in West Virginia.

The Jacksonville, Florida-based company reported net income of 63 cents per share, which included a noncash impairment charge of 27 cents related to the resort investment.

Excluding that charge, CSX earned 90 cents per share. In the same period in 2007 the railroad reported earnings per share of 85 cents.

Analysts had on average expected CSX to report fourth-quarter 2008 earnings per share of 99 cents, according to Reuters Estimates.

The railroad said it expects fourth-quarter revenue would be approximately $2.7 billion, up 4 percent from the same period in 2007.

Analysts had expected revenue for the quarter of $2.75 billion.

The increase was driven by the higher prices it charged to haul freight and improved fuel surcharge collection, CSX said.

The railroad said that the higher revenue had come despite "significantly lower" freight volumes.

Like the other major U.S. railroads -- Union Pacific Corp (UNP.N), Burlington Northern Santa Fe Corp (BNI.N) and Norfolk Southern Corp (NSC.N) -- CSX has reported robust profits in recent quarters due to strong pricing, despite falling freight volumes as the U.S. economy has weakened.

But analysts have warned that the railroads may not be able to maintain that pricing power if the U.S. remains in a prolonged economic slump.

CSX said on Monday that due to the "current economic challenges, particularly the uncertainty facing U.S. manufacturing, the company is no longer affirming or providing long-term guidance."

The company had provided regular long-term forecasts over the past few years.

CSX is expected to release its final results on Jan. 20 after the market closes.

Separately, the company said it planned to furlough 600 hourly and salaried employees at The Greenbrier Resort.

The Greenbrier, a resort and spa in the Allegheny Mountains where the U.S. government built a top-secret nuclear shelter for Congress during the Cold War, has furloughed the workers because of the harsh business environment for luxury resorts.