CSX reiterates FY outlook as Q1 results top estimates

Investing.com -- CSX reported Wednesday reiterated its full-year outlook after first-quarter results beat analysts' forecasts even as the railroad company experienced a drop in profit amid lower margins.

CSX Corporation (NASDAQ: CSX) shares gained more than 1% in after-hours trade following the report.

CSX reported earnings of $0.46 per share on revenue of $3.68 billion. Analysts polled by Investing.com anticipated EPS of $0.45 on revenue of $3.67B.

The beat on the bottom line comes even as operating margin fell 270 basis points to 36.8% in Q1 year-on-year. The company reported a 3% increase in volumes in the quarter compared with a year earlier.

Looking fiscal 2023, the railroad company continues to expect low single digit revenue and voume growth for the full year, wioth capex expected to be about $2.5 billion.

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