Freight rail services provider CSX (NASDAQ:CSX) will be reporting earnings tomorrow after market close. Here’s what to expect.
CSX missed analysts’ revenue expectations by 1.5% last quarter, reporting revenues of $3.62 billion, up 1.3% year on year. It was a softer quarter for the company, with a miss of analysts’ EPS and adjusted operating income estimates.
Is CSX a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting CSX’s revenue to decline 3.3% year on year to $3.56 billion, a further deceleration from the 1.3% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.42 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. CSX has missed Wall Street’s revenue estimates three times over the last two years.
Looking at CSX’s peers in the transportation and logistics segment, only FedEx has reported results so far. It missed analysts’ revenue estimates by 0.6% and delivered flat year-on-year revenue. The stock was flat on the results.
Read our full analysis of FedEx’s earnings results here.There has been positive sentiment among investors in the transportation and logistics segment, with share prices up 5.3% on average over the last month. CSX is up 1.7% during the same time and is heading into earnings with an average analyst price target of $37.97 (compared to the current share price of $33.27).
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