July 16, 2019 / 8:18 PM / a month ago

CSX profit falls on trade-related weakness

LOS ANGELES, July 16 (Reuters) - CSX Corp on Tuesday reported a quarterly profit that missed Wall Street’s view after weakness in its trade-related intermodal business - which involves freight that moves via cargo ship, rail and trucks - weighed on results.

Second-quarter net income was $870 million, or $1.08 per share, versus $877 million, or $1.01 per share, a year earlier. Analysts had expected a profit of $1.11 per share, according to Refinitiv IBES data.

Revenue for the second quarter declined 1% to $3.06 billion, after weakness in intermodal offset growth in its merchandise business. (Reporting by Lisa Baertlein in Los Angeles Editing by Susan Thomas)

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