CSX Q2 profit dips 2% to $963M due to Baltimore bridge collapse, revenue remains flat at $3.7B.

In Q2, CSX Corporation reported a 2% dip in profit to $963 million, primarily due to the effects of the Baltimore bridge collapse in March. Despite the setback, the company's Q2 revenue remained flat at $3.7 billion, slightly ahead of Wall Street predictions. Operating expenses also increased, reaching $2.25 billion, primarily due to higher labor costs. CSX predicts that volume and revenue will both be up by low-to-mid single digits in the second half of the year, though CEO Joe Hinrichs mentioned that the economy appears slightly more fragile than earlier in the year.

8 months ago
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