New Delhi, July 24 -- CSX railroad's CEO signaled he would be open to merger conversations if a deal would boost shareholder value and help the business grow.

As merger rumors swirl in the industry, the Jacksonville, Florida-based railroad said Wednesday that its second-quarter profit dipped 14% to $829 million, or $0.44 per share. That's down from $963 million, or $0.49 per share, a year ago.

The railroad continues working on two major construction projects that are causing delays and added costs, but the results were in line with what the analysts surveyed by FactSet Research predicted.

CEO Joe Hinrichs wouldn't comment directly on the merger rumors and he said that CSX is focused on improving its operations. But Hinrichs also said h...