Latest news with #CSX
Yahoo
16 hours ago
- Yahoo
Safety upgrades coming to West Springfield rail crossing
WEST SPRINGFIELD ― Railroad company CSX has agreed to fund major safety upgrades at the Memorial Avenue rail crossing in West Springfield — a site where trains carrying propane have relied on flares and manual traffic control to cross four lanes of traffic. The upgrades follow sustained pressure from local and state officials, rail workers, and union leaders who flagged the crossing's outdated safety measures as a growing threat, said Trevor Wood, West Springfield's public works director, in a press release. According to Woods, local rail workers and Local 352 of the International Association of Sheet Metal, Air, Rail and Transportation Workers have raised concerns about the lack of safety infrastructure at the Memorial Avenue crossing. 'These outdated and dangerous procedures, paired with limited signage and no physical barriers, led to numerous close calls and a growing sense of urgency,' Woods said in the statement. The project will add brighter red flashing lights, early warning signals for motorists and new fencing. Construction will start this fall after The Big E ends, with signal work planned for spring 2026. The whole project should be finished by the end of next year, the statement said. These changes are a step forward for keeping residents, workers and visitors safe, Mayor William Reichelt said in a statement Wednesday. 'Together with the MassDOT overhaul of Memorial Avenue, this project will transform the entire corridor and deliver long-term safety and traffic benefits for West Springfield,' Reichelt said. more news from Western Massachusetts Demolition to begin at vacant Mary Lane Hospital campus in Ware Maine man pleads guilty in decades-old rape case, sentenced to 12-15 years Hampden county communities to see major state investment in transportation projects 'I see people holding back,' but retailers hope for tax-free boost this weekend Now-closed UMass marmoset lab euthanized its colony of monkeys Read the original article on MassLive. Solve the daily Crossword
Globe and Mail
2 days ago
- Business
- Globe and Mail
CSX Executive Vice President and Chief Commercial Officer to Address Deutsche Bank's 2025 Transportation Conference
JACKSONVILLE, Fla., Aug. 06, 2025 (GLOBE NEWSWIRE) -- CSX Corp. (NASDAQ: CSX) Executive Vice President and Chief Commercial Officer, Kevin Boone, will address Deutsche Bank's 2025 Transportation Conference in New York on Tuesday, August 12th, at 9:00 a.m. Eastern time. This address will be broadcast live via webcast at A replay will be available following the conclusion of this event. This announcement, as well as additional financial information, is available on the company's website at About CSX CSX, based in Jacksonville, Florida, is a premier transportation company. It provides rail, intermodal and rail-to-truck transload services and solutions to customers across a broad array of markets, including energy, industrial, construction, agricultural and consumer products. For nearly 200 years, CSX has played a critical role in the nation's economic expansion and industrial development. Its network connects every major metropolitan area in the eastern United States, where nearly two-thirds of the nation's population resides. It also links more than 240 short-line railroads and more than 70 ocean, river and lake ports with major population centers and farming towns alike. More information about CSX Corporation and its subsidiaries is available at Like us on Facebook ( and follow us on X, formerly known as Twitter (
Daily Mail
5 days ago
- Daily Mail
Train carrying 220 cars of coal derails in West Virginia
A coal train derailment in West Virginia early Sunday has caused major disruptions, including the suspension of Amtrak service between Huntington and New York City. The CSX freight train went off the tracks around 12:30 a.m. in St. Albans, a city of about 10,800 residents located 10 miles west of Charleston. Authorities confirmed the train was made up of 220 cars, which carried approximately 100 tons of coal, and weighed 54 million pounds. Officials have not said how many cars derailed, but the incident caused widespread disruption in the eastern part of the city, according to the St. Albans Fire Department. The train was operated by CSX Transportation, a major freight railroad that hauls goods like coal, grain, and industrial materials across the eastern U.S. The route where the incident occurred - known as CSX's Kanawha Subdivision - is a key corridor for coal shipments through the region. As a result of the derailment, Amtrak has canceled its Cardinal passenger route in both directions. Passengers who left Chicago on August 2 are being bused from Huntington to Washington, D.C., with connections available to New York. The westbound Cardinal that was supposed to depart from New York will now originate in Huntington. Amtrak has not announced alternate transportation for passengers scheduled to leave from New York. No injuries have been reported. The cause of the derailment remains under investigation. The Cardinal is one of Amtrak's long-distance routes, running three times a week between Chicago and New York City via Indianapolis, Cincinnati, and Washington, D.C. The line passes through some of the most scenic parts of the Appalachian Mountains, including the New River Gorge in West Virginia. Service disruptions along the route can significantly impact travel plans, especially in rural areas where alternate transportation options are limited.
Yahoo
7 days ago
- Business
- Yahoo
Do Wall Street Analysts Like CSX Stock?
Jacksonville, Florida-based CSX Corporation (CSX) operates as one of the leading transportation companies in North America, providing rail-based freight transportation services in the U.S. and Canada. With a market cap of $65.8 billion, CSX operates through rail and trucking segments. The transportation giant has notably lagged behind the broader market over the past year but outperformed it in 2025. CSX stock has gained 10.1% on a YTD basis and inched up 1.5% over the past 52 weeks, compared to the S&P 500 Index's ($SPX) 7.8% gains in 2025 and 16.6% returns over the past year. More News from Barchart Morgan Stanley Says Nvidia Has 'Exceptional' Strength. Should You Buy NVDA Stock Here? With UnitedHealth Under DOJ Investigation, Should You Buy, Sell, or Hold UNH Stock Now? This High-Yield Dividend Stock Just Slashed Its Payout. Is It Time to Sell Now? Our exclusive Barchart Brief newsletter is your FREE midday guide to what's moving stocks, sectors, and investor sentiment - delivered right when you need the info most. Subscribe today! Narrowing the focus, CSX has also outpaced the industry-focused iShares Transportation Average ETF's (IYT) marginal uptick in 2025, and underperformed IYT's 3.9% gains over the past year. CSX stock prices observed a marginal gain in the trading session after the release of its mixed Q2 results on Jul. 23. Due to the impact of reduced fuel surcharge and drop in merchandise volume, the company's topline took a notable hit. This was partly offset by an increase in pricing and intermodal volumes, yet the total revenues dropped 3.4% year-over-year to $3.6 billion, missing the Street expectations by a small margin. Meanwhile, the company did a commendable job at curbing expenses, which led to a smaller drop in earnings compared to expectations. Net earnings came in at $829 million, down 13.9% year-over-year, yet its EPS of $0.44, surpassed the consensus estimates by 4.8%. For the full fiscal 2025, ending in December, analysts expect CSX to deliver an EPS of $1.67, down 8.7% year-over-year. The company has a mixed earnings surprise history. It has surpassed the Street's bottom-line estimates thrice over the past four quarters, while missing the projections on one other occasion. The stock has a consensus 'Moderate Buy' rating overall. Of the 25 analysts covering the stock, opinions include 17 'Strong Buys,' one 'Moderate Buy,' and seven 'Holds.' This configuration is notably more bullish than a month ago, when only 13 analysts gave 'Strong Buy' recommendations. On Jul. 25, Baird analyst Daniel Moore reiterated an 'Outperform' rating on CSX and raised the price target from $38 to $44. CSX's mean price target of $37.71 suggests a modest 6.1% upside from current price levels, while the Street-high target of $45 represents a notable 26.6% premium. On the date of publication, Aditya Sarawgi did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
7 days ago
- Business
- Yahoo
CSX on the Hot Seat from Activist Ancora Following UP-NSC Takeover
CSX may be at a crossroads in the wake of the merger announcement of two of its Class I railroad rivals. Activist investor Ancora Holdings, which launched a proxy fight against Norfolk Southern that sparked a board overhaul and resulted in the ousting of its then-chair, could use its sway to push CSX in a new direction. One such option may be a potential merger. More from Sourcing Journal Why Investors Are Rooting for 'Clean' Fashion Union Pacific Hopes to Win Back Volume in Proposed $85B Norfolk Southern Deal UP-Norfolk Southern Merger Would Control Nearly Half of US Rail Container Traffic In a Wednesday interview with CNBC, Ancora Alternatives president James Chadwick said that the hedge fund has been a 'growing shareholder' in CSX, although the asset management firm has not disclosed its stake. '[CSX] has to make a decision of whether it wants to find a merger partner or whether it's going to have to go retool management,' Chadwick said. When asked if Ancora would consider a campaign against CSX management, Chadwick said 'I think that'll be up to CSX, ultimately.' Chadwick denied that there had been contact with CSX regarding a possible activist push yet, but said 'Whatever actions they make from here will dictate what we do.' In a late July earnings call, CSX CEO Joseph Hinrichs did not rule out the possibility of a merger or acquisition, saying the company was 'always open to anything' to deliver shareholder value. Ancora's potential move could be summed up by Chadwick's criticism that the company is 'underperforming,' particularly in operating ratio. Operating ratio is a top performance metric monitored by analysts, representing operating costs divided by total revenue. The data point typically reflects a railroad's ability to manage its expenses and drive profits, and is expressed as a percentage. The lower the percentage, the better the railroad is at generating profits. Currently, CSX has the worst operating ratio of the Class I railroads at 64.1 percent. In the quarter prior to Hinrichs' start as CEO and president in September 2022, the railroad had a 55.4 percent operating ratio. The conclusion of Ancora's proxy fight with Norfolk Southern last year also involved the operating ratio metric. At the time, the railroad said it planned to reach a sub-60 percent operating ratio within three to four years. Whether Ancora's overtures have gotten to CSX or not, it appears there may be more movement on the railroad's part to enact some level of change. On Thursday, a Bloomberg report said CSX is working with Goldman Sachs as the railroad potentially explores its options. The railroad spoke with the bank about the possibilities of a merger, the report said. CSX did not have additional comment on the report. Before the $85 billion Union Pacific-Norfolk Southern acquisition, reports had surfaced that BNSF Railway was seeking to acquire a rival railroad, and that it tapped Goldman Sachs to get such a deal in motion. However, Warren Buffett, the investing icon who chairs BNSF parent Berkshire Hathaway, had swatted away the Goldman connection, indicating that no one from the investment bank had spoken to him about a possible deal. Given the national implications of a UP-NSC merger, a combination of their respective rivals in the Western and Eastern U.S. would make sense. BNSF Railway covers 32,500 route miles in 28 states and three Canadian provinces, while CSX reaches more than 20,000 route miles across 26 states, Washington, D.C. and two provinces. Like Union Pacific and Norfolk Southern, there is minimal overlap between BNSF and CSX, with the only common areas being Midwestern cities like Chicago, St. Louis, Memphis and New Orleans. With the chatter about the future of CSX and BNSF likely going to linger, the Union Pacific-Norfolk Southern takeover has caught attention of a top U.S. lawmaker railing against the deal. Senate Democratic Leader Chuck Schumer cited the acquisition as one that pushes the industry 'further down the road of dangerous consolidation and monopoly power.' 'The last four decades of railroad mergers have led to worse service, worse safety, worse working conditions, higher costs for shippers—which ultimately means higher prices for consumers,' Schumer argued. 'They also promise no union jobs will be cut. But we've heard that before, from the same executives who've laid off thousands of workers while raking in record profits.' Schumer pointed to union opposition to the deal, including that from the SMART Transportation Division, which is the largest railroad union in America. The Union Pacific-Norfolk Southern acquisition is expected to close by early 2027, if it passes the regulatory approval process of the Surface Transportation Board (STB). The deal would cut the number of U.S.-headquartered Class I railroads from four to three, while a possible BNSF-CSX merger would cut that number to two. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
