CSX says weak coal, crude will hurt earnings for rest of 2016
CHICAGO, July 14 (Reuters) - U.S. railroad CSX Corp said on Thursday that its freight volumes should be down in the "mid- to high single digits," driven primarily by weak coal and crude tonnage, and that its earnings for the rest of 2016 will be down versus the previous year.
During a conference call with analysts, executives at the Jacksonville, Florida-based company said the railroad expects full-year 2016 to be down 25 percent and reiterated a previous forecast that its ongoing cost-cutting drive should lead to productivity gains of $350 million.
(Reporting By Nick Carey)
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