GNW: CSX announces 4Q and FY 2018 Financial Results, authorises $5 billion share buyback

JACKSONVILLE, Fla., Jan. 16, 2019 (GLOBE NEWSWIRE) — CSX Corporation (NASDAQ: CSX) today announced fourth quarter 2018 net earnings of $843 million, or $1.01 per share, versus $4,140 million, or $4.62per share on a GAAP basis ($0.64 on an adjusted basis) in the same period last year. Fourth quarter 2017 net earnings included a tax reform benefit resulting from the Tax Cuts and Jobs Act of 2017 and a restructuring charge that accounted for $3.98 per share (see table below for details). CSX’s operating ratio set a company fourth quarter record of 60.3 percent from 60.7 percent in the prior year or 65.1 percent on an adjusted basis.

CSX’s full year 2018 operating ratio of 60.3% is a U.S. Class I railroad record.