Railroader CSX sees shipments up broadly this year; expects double-digit earnings growth

CSX sees shipments up across the board this year

NEW YORK — Railroad operator CSX Corp. says the economic recovery is sustainable, but it’s hedging that bet through small efficiency improvements that it hopes will counter any further weakness.

CSX, based in Jacksonville, Fla., expects the rest of the year will be just as strong as the first three months, in which its profit rose 20 percent from a year earlier.

In a conference call Wednesday, it reaffirmed its forecast of double-digit earnings growth for 2010. It sees shipments growing in all of its segements versus 2009.

Railroads tend to be a good gauge of the broader economy because of the variety of products they ship — everything from iPods to gravel.

Its shares climbed 3.4 percent to $55.08 in midday trading after touching a 52-week high of $55.48.