Railway Operator CSX Powers Past Wall St. Forecasts

[Steve]

Railroad operator CSX Corp. (CSX) proved it is as good as its word Tuesday, chugging past first-quarter views despite a challenging environment.

The nation's No. 3 railroad earned 80 cents a share excluding items, up 60% from a year earlier and 6 cents above estimates. Revenue gained 12% to $2.7 billion, also above views. CSX also reaffirmed its full-year guidance, saying it's targeting the upper end.

Officials have scheduled a Wednesday conference call.

CSX recently signaled it would top first-quarter views, leading some analysts to raise estimates.

CSX shares rose 1% to 57.77 ahead of results, then climbed 2% in after-hours trading. Shares are up 31% so far this year, hitting a record high of 58.91 on April 3


http://money.cnn.com/news/newsfeeds/articles/newstex/IBD-0001-24526304.htm

[Steve]

This should really strengthen the case from that hedge fund that Michael Ward doesn't know what he is doing.....

[Beloki]

As long as the price of gas keeps climbing.... rail becomes more and more attractive

[Driven1]

IMO, the transports will continue to beat the general market...i would be leery of any high-overhead road-based transports though...i read somewhere recently (Barrons or WSJ i think) that they find it more difficult to pass along fuel cost increases to customers.  note:  locally, Landstar (LSTR) surprisingly has many of its booking agents working out of their house - like 80% as of 2 or 3 years ago...not sure of the % these days.

[Midway ®]

Hopefully, the takeover attempt by "TCI" will be crushed. TCI only wants to dismantle CSX and sell it off in pieces for short term gain. They don't care about the fact that it is a vital piece of this country's infrastructure, and they certainly don't give a crap about its 85,000 employees.

Even the name of this hedge fund is a joke. The Children's Fund.  Ha. They donate 1% of their earnings to a charity that is run by the fund manager's wife as a hobby to keep her out of trouble. Then they name the fund after this minor effort. It's cynicism and duplicity on a scale that only a hedge fund is capable of.