CSX Corp (CSX) released its first quarter results on Wednesday, April 21, 2021. The company reported net earnings of $0.93 per share for the first quarter ending March 31, 2021. Earnings for this past quarter declined 7 percent compared to the same period a year ago.
CSX Corporation was incorporated in 1978 and is headquartered in Jacksonville, Florida. CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services; and transportation of intermodal containers and trailers, as well as other transportation services, such as rail-to-truck transfers and bulk commodity operations.
CSX's revenue decreased 11 percent over the past trailing twelve-month period versus the previous twelve-month period. Gross margins decreased to 51.4% for the first quarter compared to the same period in the previous year, and operating margins decreased to 39.14% over the same period. Net earnings for past trailing twelve months were $2.7 billion, down 17% from the prior year.
Moving on to the balance sheet, CSX’s cash levels jumped 48% for the third quarter over the same period last year. Overall liquidity of the balance sheet, as measured by the current ratio, increased 38.39% this past year. The current ratio for CSX now stands at 2.39. The company decreased shares outstanding by 1.41%.
Shares of CSX are currently trading around $102.69. In terms of valuation, the stock is trading at a trailing twelve-month price to earnings ratio of 29.1 and price to book ratio of 5.95.