RTTNews | Oct 21, 2020 04:55PM EDT

16:55 Wednesday, October 21, 2020 (RTTNews.com) - CSX Corp. (CSX) Wednesday reported third-quarter net earnings of $736 million or $0.96 per share, down from $856 million or $1.08 per share last year.

Revenue for the third quarter decreased 11 percent to $2.65 billion from $2.98 billion last year.

Analysts polled by Thomson Reuters estimated earnings of $0.92 per share on revenues of $2.68 billion.

CSX also announced the Board authorized a new share repurchase program, providing $5 billion of incremental authority to about $1.1 billion remaining under the existing share repurchase program.

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