Investopedia: Pricing Is Strong At CSX

While rail traffic volumes were not very strong throughout much of the third quarter, there is more to railroad financial performance than just railcar volume. Pricing matters, and pricing has been strong at CSX (NYSE:CSX). Although there are more than a few points of concern around CSX's operating environment, the valuation here seems to assume a fairly bearish scenario. 

A Challenging Third Quarter  
While CSX reported revenue slightly above the average analyst estimate, investors should remember that estimates have been sliding for a few months as disappointing volume data, particularly in coal, has weighed on sentiment. Nevertheless, this was still a double-digit quarter as CSX produced 11% volume growth. Carload volume was up less than 1%, but the company reaped more than 10% additional revenue per carload. Of that, pure price increases (as opposed to fuel surcharge and/or mix shifts) were probably on the order of 6-7%.

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http://stocks.investopedia.com/stock-analysis/2011/Pricing-Is-Strong-At-CSX-CSX-UNP-NSC-ACI-PVR-JBHT-HUBG1021.aspx