Freight rail services provider CSX (NASDAQ: CSX) will be announcing earnings results this Wednesday after market hours. Here’s what to expect.
CSX met analysts’ revenue expectations last quarter, reporting revenues of $3.48 billion, up 1.7% year on year. It was a satisfactory quarter for the company, with a beat of analysts’ EPS estimates.
Is CSX a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting CSX’s revenue to grow 9% year on year, a reversal from the 3.4% decrease it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. CSX has missed Wall Street’s revenue estimates multiple 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 exceeded analysts’ revenue estimates, delivering year-on-year sales growth of 12.5%. The stock price was unchanged following the results.
Read our full analysis of FedEx’s earnings results here.In the last twelve months or so, the market has shifted its attention from one area of macro importance to the next (AI disintermediation and AI capex spending to geopolitical conflict, rates, and whether the economy is on solid footing or not). While some of the transportation and logistics stocks have shown solid performance in this choppy environment, the group has generally underperformed, with share prices down 4% on average over the last month. CSX is up 8.2% during the same time and is heading into earnings with an average analyst price target of $50.63 (compared to the current share price of $49.99).
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