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News Summary: CSX 2Q profit grows 4 percent

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The Associated Press | July 17, 2013 01:49 PM EST | AP


RAILROAD REWARDS: CSX says its second-quarter profit grew 4 percent to $535 million, or 52 cents per share, on $3.07 billion revenue.

SHORT-TIME GAINS: CSX's quarterly results were helped by several one-time items like $16 million in payments from utilities that didn't ship as much coal as agreed. But even without the 4 cents per share of one-time items, CSX's adjusted earnings per share of 48 cents beat Wall Street expectations.

LEVELING OUT: CSX reiterated predicts its earnings will be relatively flat in 2013 but should grow 10 to 15 percent in 2014 and 2015.