CSX profit slipped as the railroad scrambled to respond to Baltimore bridge collapse

CSX railroad's second-quarter profit slipped 2% — even though the volume of its shipments was up by the same rate — as it scrambled to respond to the Baltimore bridge collapse in March that disrupted coal exports.

CSX said Monday that it earned $963 million, or 49 cents per share, in the second quarter. That's down from last year's $984 million, or 49 cents per share.

But the results beat the 48 cents per share that analysts surveyed by FactSet Research predicted.

“I am proud of our railroad’s performance, including our team’s effective response to the disruptions at the Port of Baltimore," CSX CEO Joe Hinrichs said.