CSX
The nation’s third-largest railroad said Monday a “dynamic” economy, combined with an across-the-board improvement in shipping volume and higher prices, drove its second-quarter profit up 36 percent.
CSX is the first among its peers to report earnings for the April-to-June period.
Railroads’ performance is an important window on the U.S. economy because trains carry so many things that consumers and businesses use every day — from clothing to cars.
CSX earned $414 million, or $1.07 per share, in the second quarter, compared with $305 million, or 77 cents per share, a year earlier. Revenue rose 22 percent to $2.66 billion.
Alcoa
The manufacturing giant said Monday it posted a second-quarter profit as it sold more aluminum in the commercial-vehicles, packaging and construction markets.
Alcoa reported net income of $136 million, or 13 cents per share, for the quarter ending June 30. That compared with a loss of $454 million, or 47 cents a share, a year ago. Revenue rose to $5.19 billion from $4.24 billion.
The second-quarter results topped estimates from analysts surveyed by Thomson Reuters. They expected net income of 12 cents per share on revenue of $5.05 billion.
The largest U.S. aluminum producer said improved demand helped offset a 1 percent drop in realized aluminum prices.
Alcoa also forecast global aluminum consumption to increase 12 percent this year, compared with the 10 percent increase it forecast three months ago.
