CSX Dips After Earnings Miss, Management Change

[Stocks-to-Watch]

Railroad giant CSX (CSX) fell 3% after the company missed earnings expectations by a hair and announced a new CFO and COO.

CSX posted 43 cents of EPS, a penny below analysts’ expectations. Revenue of $2.95 billion was just below expectations for $2.99 billion. The company said that overall volumes fell 4% year over year, although profit rose 6% in higher prices for hauling freight.

The company also announced that Oscar Munoz will become its new COO and Frederick Eliasson will become CFO. Munoz previously served as CFO, and Eliasson was vice president of sales and marketing for CSX’s chemicals and fertilizer business.



Original Article Source by Barrons.com