Richmond, VA-based railroad CSX said its net income rose 24% to $135 million on revenues of $2.07 billion in the second quarter largely because of strong intermodal business.
Chairman & CEO John Snow the company's "sharp, sustained focus" on improving intermodal service is bringing new freight business from highway transportation and has enabled the railroad to increase prices in selected markets.
"Our auto, merchandise and intermodal revenues are all up for the quarter, more than offsetting continued weakness in the coal sector due to prevailing, higher-than-normal utility stockpiles," he said.
