CSX Corp., the nation’s second-largest railroad operator,...
CSX Corp., the nation’s second-largest railroad operator, reported fourth-quarter earnings of $78 million, down from $104 million a year earlier. The firm said revenue fell to $1.9 billion from $2 billion because of a “substantial decline in coal traffic.” For the full year, the company reported record earnings of $465 million, a 71% rise, on revenues of $7.9 billion, a 35% increase. The company attributed its 1984 results to strong coal traffic in the first three quarters, aggressive marketing of general commodity transportation services, tight cost control and a substantial increase in natural resource earnings.
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