CSX's earnings fell 22% in the third quarter as the railroad wrapped up two major construction projects that were limiting traffic, but volume was still up slightly and the results were weighed down by a one time charge.

The Jacksonville, Florida-based company said Thursday it earned $694 million, or 37 cents per share, in the quarter. That's down from $894 million, or 46 cents per share a year ago. But without a $164 million goodwill impairment charge, the railroad would have earned $818 million, or 44 cents per share.

The adjusted figure just topped the 43 cents per share that analysts surveyed by FactSet Research had predicted.

CSX’s performance has suffered over the past year because of construction projects that limited the railroad’s flexibility and reduced capacity. CSX completed

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