Rail company saw strong growth in domestic intermodal.
CSX had record profits and revenue in the fourth-quarter and for the full year in 2014.
Fourth quarter profit was $491 million, a 15 percent increase from $426 million for the same period last year. Revenue was $3.2 billion, up 5 percent.
The company said it saw strength in several categories of freight including “merchandise, intermodal and coal. The timely addition of operating resources enhanced service through the fall peak shipping season and supported volume growth.”
For the full-year, the railroad had profits of $1.9 billion, up 3 percent from 2013, and revenue of $12.7 billion, a 5 percent increase.
In the fourth quarter, CSX said domestic intermodal grew 9 percent as a result of growth with existing customers and continued success with highway to rail conversion.
Domestic units accounted for 57 percent of its intermodal business in the fourth quarter, international, 43 percent. International intermodal in the fourth quarter grew 1 percent due to growth in global container shipments moving to inland destinations, and was partially offset by market losses.
Fourth quarter intermodal volume grew 5 percent over the same period in 2013 to 699 units and revenue from intermodal grew six percent to $465 million. Revenue per intermodal unit grew 1 percent to $665 per unit.
Looking to 2015, CSX said it “expects continued strong growth across its diverse business mix and is poised for sustainable business expansion. The company continues to expect to generate double-digit growth in earnings per share and margin expansion in 2015, progressing toward a mid-60s operating ratio longer term.”
CSX reports record profit and sales in 2014
