Eastern US class I railway CSX has posted a 2% second quarter net profit increase to USD 529 million, drawn on revenues of USD 3.2 billion, up 7%.
But first half profits were down 6% while expenses decreased 7% in the second quarter year on year.
Officials said that growth is coming on the strength of upwards trends in the intermodal and oil and gas markets, and that this growth would allow them to raise investments this year by USD 100 million to USD 2.4 billion.
President and chief Executive Officer (CEO) Michael Ward said that "To propel service and capture growth opportunities, CSX is adding front-line personnel and making targeted investments in infrastructure and freight cars to efficiently grow our business."
"With the broad-based economic momentum we are seeing, the core earning strength of this company is improving and said anticipates "full-year modest earnings growth."