CSX Corp. (CSX) earnings expectations have been trimmed because rough winter weather held down freight traffic, according to The Wall Street Journal.
Shares of the railroad operator were down more than 1% at mid-day, ahead of the company’s expected release of 1Q results.
The Journal said analysts now estimate CSX earned $0.37 a share in 1Q, after having projected $0.46 at the start of January, according to FactSet. CSX reported EPS of $0.45 in 2013’s first quarter.
The Journal predicted railroad pricing is unlikely to regain its prior historical strength, as coal shipments have declined because of environmental obstacles and because of increased use of natural gas.
In mid-day trading, CSX was down 1.23% to $28.03.