News Summary: CSX 2Q profit up 1 percent

Published July 17, 2012 10:24pm ET



SMALL GAIN: CSX Corp.’s second-quarter profit rose 1 percent to $512 million, or 49 cents per share, beating analysts’ forecast of 47 cents per share.

COAL IN THE DUMPS: The freight railroad gets more than one-fourth of its revenue from hauling coal. That business slumped 14 percent as more utilities switched to natural gas to run power plants.

CARS SHINE: Revenue from shipping autos and automotive parts climbed 34 percent on resurging vehicle sales.