The recent collapse of the Baltimore Bridge is reportedly costing $191 million per day in lost economic activity. Despite this significant impact, CSX Corporation reported better-than-expected first-quarter earnings. The railroad operator, serving much of the eastern U.S., announced a net income of $893 million, or 46 cents per share, which, although a decline from the previous year's $987 million or 48 cents per share, still surpassed expectations. The stock price of CSX rose by 1.75% after hours following the earnings announcement. Analyst Anthony DeRuijter provided insights on the potential impact on CSX's earnings for MarketWatch.
CSX first-quarter profit declines but beats expectations - my story for @MarketWatch #CSX $CSX https://t.co/jOl3jCMiRH
$CSX reported better-than-expected 1Q earnings after close Wed, despite declining y/y profit. -The railroad operator, whose network serves much of the eastern U.S., reported first-quarter net income of $893mn, or 46c/share. -That was down from net income of $987 million, or 48… https://t.co/clWcl5XesC
$CSX CSX beats, stock +1.75% AH https://t.co/lYN73PdKas
Will the Baltimore Bridge collapse weigh on CSX’s earnings? Anthony DeRuijter of @teamthirdbridge provides his insight in my latest story for @MarketWatch #CSX $CSX #Baltimore #BaltimoreBridge https://t.co/5PWKibeR6d
NEW: Baltimore Bridge Collapse Costing $191M *A Day* In Lost Economic Activity. https://t.co/cG4XvmaTnk