for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up

CSX quarterly profit down on lower coal, merchandise volume

FILE PHOTO: A CSX coal train (R) moves past an idling CSX engine at the switchyard in Brunswick, Maryland October 16, 2012. REUTERS/Gary Cameron

LOS ANGELES (Reuters) - U.S. railroad operator CSX Corp CSX.O on Wednesday reported a lower quarterly profit after cost controls failed to offset declining coal and merchandise volume.

The Jacksonville, Florida-based company, considered one of the most efficient U.S. railroads, had third-quarter net earnings of $736 million, or 96 cents per share, down from $856 million, or $1.08 per share, a year earlier.

Revenue fell 11% to $2.65 billion.

Reporting by Lisa Baertlein in Los Angeles; Editing by Richard Chang

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up