Jim Cramer: What CSX Earnings Tell Investors About the U.S. Economy

Credit: The Street
Published on July 17, 2019 - Duration: 01:10s

Jim Cramer: What CSX Earnings Tell Investors About the U.S. Economy

Real Money Stock of the Day CSX reported its second quarter earnings following the closing bell on July 16.

The third-largest U.S. rail operator fell sharply after missing on the top and bottom line with earnings per share of $1.08 and revenues of $3.08 billion.

CSX also cut its full-year forecasts.

During the conference call that followed the CSX earnings release, CEO Jim Foote told investors, "The present economic backdrop is one of the most puzzling I have experienced in my career." Are CSX earnings telling investors something troubling about the economy?

Jim Cramer shared his take during TheStreet's daily Cramer Live Show: "I don't think there was anything really puzzling about it.

If you read his own lines, I mean--crew by rail, that was hurt by refinery outage.

That's the one in Philadelphia.

You have coal down dramatically in part because of natural gas...You obviously have a slow down in much of the country when it comes to their region business versus where it was a year ago," said Cramer.

Catch his full breakdown of CSX in the video above.

Related.

CSX Looks Like It Will Eventually Break the 200-Day Average Line - Play Defense

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