CSX Corp. announced unaudited consolidated earnings results for the fourth quarter and full year ended December 28, 2012. For the quarter, the company reported net earnings of $443 million or $0.43 per diluted share, compared to $457 million or $0.43 per diluted share, in the prior same period. Total revenue was $2.9 billion compared with $2.95 billion a year ago. The company saw an increase in merchandise and intermodal shipments, but these gains were more than offset by declines in coal resulting from low natural gas prices, high coal inventory at utilities and lower global demand. As a result of the lower revenue, which was partially offset by strong efficiency gains, operating income declined 4% to $804 million compared with $841 million a year ago. Earnings before income taxes were $718 million compared with $712 million a year ago.

For the full year, net earnings were $1.9 billion or $1.79 per diluted share, up from $1.8 billion or $1.67 per diluted share in 2011. Operating income increased 1% to $3.5 billion compared with $3.4 billion a year ago. Total revenue was $11.8 billion compared with $11.7 billion a year ago. Earnings before income taxes were $2.96 billion compared with $2.89 billion a year ago. Net cash provided by operating activities was $2.95 billion compared with $3.5 billion a year ago. Property additions were $2.3 billion compared with $2.29 billion a year ago.