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CSX's 4Q, Full-Year Earnings Jump on Higher Volume

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1/24/2011 4:40:00 PM

CSX Corp. said Monday its fourth-quarter profit jumped 42% on higher shipments from auto manufacturers and other industrial shippers.

Net income was $430 million, or $1.14 per share, up from $303 million, or 77 cents, a year ago.

Revenue jumped 21% to $2.8 billion as overall shipping volume rose 13%, the eastern freight railroad said late Monday.

CSX said it had record financial results for the full year, earning $1.56 billion, or $4.06 a share, up from $1.14 billion, or $2.89, a year ago.

Full-year revenue rose 18% to $10.64 billion, said CSX, which operates in the eastern United States and parts of Canada.

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