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Florida-based CSX 2Q profit more than doubled as railroad hauled 27% more

Photo: Gift Habeshaw
Photo: Gift Habeshaw

CSX railroad’s second-quarter profit more than doubled as the economy continued to rebound from the depths of the coronavirus pandemic.

Florida-based CSX says it hauled 27% more freight than a year ago when the economy slowed to a crawl because of restrictions related to the virus.

The railroad said Wednesday that it earned $1.17 billion, or 52 cents per share, during the quarter.

The results included a one-time boost of 12 cents per share related to a property rights sale to the state of Virginia. That beat the 37 cents per share that Wall Street analysts anticipated.

Danielle Prieur covers education in Central Florida.