CSX Rises on the Back of Its Q2 Earnings Beat

Shares of CSX CSX are jumping in the after-hours following the release of the company's Q2 earnings results. Currently, shares are higher by 1.41%, trading at $25.84; they closed the regular session higher by 1.15%, at $25.48. CSX said that Q2 EPS came in at $0.46 on revenues of $3.02 billion; the Street was looking for $0.44 per share on revenues of $2.98 billion. Revenues increased 13.4% year over year. As previously announced, CSX expects capital investments of $2.2 billion in 2011. That is consistent with ithe company's intentions to reinvest an average of 18% of its revenues through 2015 to enhance the capacity, quality and flexibility of its rail network. "As our markets continue to expand, CSX is delivering outstanding results for shareholders," said Michael J. Ward, chairman, president and chief executive officer. "At the same time, we are taking a number of actions to position the operations for greater customer demand, now and over the long-term." CSX Corporation is a transportation supplier. The company provides rail-based transportation services, including rail service and the transport of intermodal containers and trailers.