Markets

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CSX inches up on a challenging outlook

CSX officials expect US coal shipments to fall in 2013.

Mike Groll/Associated Press

CSX officials expect US coal shipments to fall in 2013.

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CSX Corp. expects 2013 to be another challenge, with continued weak coal demand being offset by growth in other areas like intermodal, crude oil, fertilizer, and building products. CSX reported a 3 percent decline in fourth-quarter profit as revenue fell 2 ­percent to $2.9 billion. CEO Michael Ward said some coal users will continue to shift to natural gas in 2013, and the weak global economy will hurt demand for industrial coal use.

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