LOS ANGELES (Reuters) - U.S. railroad operator CSX Corp CSX.O on Wednesday reported a lower quarterly profit after cost controls failed to offset declining coal and merchandise volume.
The Jacksonville, Florida-based company, considered one of the most efficient U.S. railroads, had third-quarter net earnings of $736 million, or 96 cents per share, down from $856 million, or $1.08 per share, a year earlier.
Revenue fell 11% to $2.65 billion.
Reporting by Lisa Baertlein in Los Angeles; Editing by Richard Chang
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