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News Summary: CSX 3Q rail profit dips 2 pct.

Tuesday - 10/16/2012, 6:36pm  ET

By The Associated Press

(AP) - SWITCHING TRACKS: CSX Corp. says its third-quarter profit and revenue both declined 2 percent because the railroad hauled fewer carloads and the mix of goods it carried changed.

COAL CRUNCH: CSX hauled 16 percent less coal overall during the quarter as demand for coal from domestic utilities remained weak.

AUTOS IN GEAR: Shipments of automobiles and parts increased significantly as more cars were sold. CSX said its automotive revenue jumped 18 percent to $270 million.


(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)