Although efficiency dropped, CSX saw earnings jump on higher prices
CSX saw a jump in net earnings for its third quarter, reporting $1.11 billion, or 52 cents per share, compared to $968 million, or 43 cents per share, in the third quarter of 2021.
The tentative union agreements impacted the company's operating ratio, which rose to 59.5% from 56.4% a year ago — the fourth quarter in a row in which the number worsened. "There's been a few other things going on with the training of our of our workforce and all the investment we're putting into that," he said."We're actually pleased with where our operating ratio is given all of that."
These were the first quarterly results reported since Hinrichs took the reins of the railroad on Sept. 26, replacing the retiring Jim Foote.
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