Cold winter to hit CSX 1Q earnings - Beckley, Bluefield & Lewisburg News, Weather, Sports

Cold winter to hit CSX 1Q earnings

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  • Woman suffers minor injuries after car rolls on I-77 in Raleigh County

    Woman suffers minor injuries after car rolls on I-77 in Raleigh County

    Wednesday, July 30 2014 10:13 PM EDT2014-07-31 02:13:55 GMT
    Car rolled multiple times on I-77 North in Raleigh County.Car rolled multiple times on I-77 North in Raleigh County.
    In Raleigh County, a woman is miraculously not seriously injured, after her car rolls over on I-77 around 6:30 Wednesday night.An eyewitness tells us the woman was driving in the left lane on the northbound side. She suddenly veered off the road, over corrected,then slammed into the side of a tractor trailer. The car rolled multiple times before coming to a stop on it's roof.The witness says two small dogs ran out of the car. Moments later, the woman crawled out and ran after one of the dogs....
    In Raleigh County, a woman is miraculously not seriously injured, after her car rolls over on I-77 around 6:30 Wednesday night.An eyewitness tells us the woman was driving in the left lane on the northbound side. She suddenly veered off the road, over corrected,then slammed into the side of a tractor trailer. The car rolled multiple times before coming to a stop on it's roof.The witness says two small dogs ran out of the car. Moments later, the woman crawled out and ran after one of the dogs....
  • EXCLUSIVE VIDEO: Woman struck by car on Robert C. Byrd Drive

    EXCLUSIVE VIDEO: Woman struck by car on Robert C. Byrd Drive

    Friday, August 1 2014 7:54 PM EDT2014-08-01 23:54:05 GMT
    A woman was struck by a car in front of Family Coin Laundry on Robert C. Byrd Drive in Beckley Thursday night.This is surveillance video given to us by the business owners. She was not walking on a designated crosswalk. So who is at fault?
    A woman was struck by a car in front of Family Coin Laundry on Robert C. Byrd Drive in Beckley Thursday night.This is surveillance video given to us by the business owners. She was not walking on a designated crosswalk. So who is at fault?
  • Alpha Natural Resources may idle eight mines in the state of West Virginia

    Alpha Natural Resources may idle eight mines in the state of West Virginia

    Friday, August 1 2014 3:58 PM EDT2014-08-01 19:58:48 GMT
    Alpha Natural Resources might lay off over 1,000 minersAlpha Natural Resources might lay off over 1,000 miners
    Just days after coal miners rally in Pittsburgh over new rules on EPA emissions another problem arises for the coal industry.Alpha Natural Resources says because of a weak market and government regulations mine sites might have to be shut down.Eight Alpha affiliated surface mines in West Virginia are expected to be shutdown by mid October. Three of the eight mines are right here in Southern West Virginia.One of the mines that could be idled is the Pioneer Fuel's Ewing Fork number 1 Surface Mi...
    Just days after coal miners rally in Pittsburgh over new rules on EPA emissions another problem arises for the coal industry.Alpha Natural Resources says because of a weak market and government regulations mine sites might have to be shut down.Eight Alpha affiliated surface mines in West Virginia are expected to be shutdown by mid October. Three of the eight mines are right here in Southern West Virginia.One of the mines that could be idled is the Pioneer Fuel's Ewing Fork number 1 Surface Mi...

This year's harsh winter has been a mix of good and bad for CSX Corp.

"The severe weather has challenged CSX operations and volume, with the impact on first-quarter earnings now expected to approach 10 cents per share," Frederik Eliasson, CSX chief financial officer, said March 12 at the J.P. Morgan Aviation, Transportation and Industrials Conference in New York City.

"However, we still expect full-year earnings growth in 2014, though at a more modest rate than previously anticipated, with the underlying strength in our merchandise and intermodal markets combined with visibility to several million new tons of domestic coal helping to offset the first quarter impact."

After several years of excess inventory at coal-fired utility plants in CSX's service territory, stockpiles are now close to normal levels as a result of the colder-than-normal winter. In addition, broad-based growth in the company's merchandise and intermodal markets in 2014 will continue on the strength of macroeconomic expansion, opportunities afforded by the process of natural gas drilling and conversions from highway to intermodal service, Eliasson said.

Despite the problems caused by winter weather and with utility coal stockpiles getting smaller, CSX expects to deliver double-digit earnings per share growth in 2015, Eliasson said.