CSX railroad delivers 15 percent improvement in 2Q profit

In this Thursday, Jan. 26, 2017, photo, a CSX freight train passes through Homestead, Pa. CSX Corp. reports financial results, Tuesday, July 18, 2017. (AP Photo/Gene J. Puskar) In this Thursday, Jan. 26, 2017, photo, a CSX freight train passes through Homestead, Pa. CSX Corp. reports financial results, Tuesday, July 18, 2017. (AP Photo/Gene J. Puskar)

By Associated Press July 18, 2017 2 min read

OMAHA, Neb. (AP) – CSX Corp. delivered a 15 percent improvement in second-quarter profit as the railroad continues to restructure under its new CEO.

The Jacksonville, Florida-based company said Tuesday it earned $510 million net income, or 55 cents per share. That’s up from $445 million, or 47 cents per, share a year ago.

The railroad’s results were weighed down by $122 million in restructuring charges related to changes CEO Hunter Harrison has made as he works to streamline operations and impose tighter schedules for trains. Without those charges, the railroad said it would have reported earnings per share of 64 cents.

The results topped the adjusted 59 cents per share that the 11 analysts surveyed by Zacks Investment Research expected on average.

Harrison said he is pleased with the progress CSX has made so far.