Railroads reap record profits despite decline in traffic
The nation’s four major railroads are still carrying less freight than they were before the recession. But the last decade has been an exhilarating ride for them nonetheless — an era of growing profits, soaring stock prices and ambitious investments.
For Jacksonville-based CSX Corp., freight volume has dropped 7 percent since 2004. Meanwhile, its shares have climbed to $35 from less than $6, and its net income has risen 450 percent, to almost $1.9 billion in 2013, according to SEC filings.
Read more from The Florida Times-Union.