Latest news with #CSXCorp
Yahoo
13-05-2025
- Business
- Yahoo
CSX Executive Vice President and Chief Commercial Officer to Address Wolfe Research Global Transportation & Industrials Conference
JACKSONVILLE, Fla., May 13, 2025 (GLOBE NEWSWIRE) -- CSX Corp. (NASDAQ: CSX) Executive Vice President and Chief Commercial Officer, Kevin Boone, will address the Wolfe Research 18th Annual Global Transportation & Industrials Conference in New York on Tuesday, May 20, at 8:35 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. Contact: Matthew Korn, CFA, Investor Relations904-366-4515 Bryan Tucker, Corporate Communications 855-955-6397Error 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
Indianapolis Star
09-05-2025
- General
- Indianapolis Star
As Indianapolis expands the Monon Trail, homeowners say land grab would swallow backyards
Thomas Taylor has owned a home along the former Monon Railroad long enough to remember the rumble of passing trains. For the last few decades, trains have been replaced by bicyclists that zip past on the Monon Trail, weaving their way between walkers, joggers and parents pushing strollers. But there's a problem with the rail trail's much-lauded conversion, according to Taylor, a Forest Hills homeowner since 1970. Before the city of Indianapolis paved the trail back in the 1990s, officials did not give adjacent residents like Taylor the "just compensation" for public use that he, along with some property rights experts, believes they were owed under the Fifth Amendment and Indiana law. Residents in the Forest Hills and Canterbury-Chatard neighborhoods are scrutinizing this history as the city looks to widen the trail from 10-12 to 14 feet between 56th Street and Hamilton County. To do so, city officials are seeking to buy enough land for a public right-of way along the Monon that could span up to 66 feet wide in some areas. Although the city is offering payments from $1,000 to $10,000 based on independent appraisals, many of the current homeowners say they have no interest in losing all that land. In some cases, residents say, the city's trying to buy property where they have installed fences, garden beds or pools. The land dispute dates back to 1987, when CSX Corp. stopped operating the Monon Railroad. At that point, homeowners like Taylor and some property rights attorneys say, the land rights should have automatically reverted to the residents. CSX had acquired only a right-of-way easement — a right to use other people's land for the sole purpose of running a railroad — that it forfeited upon shutting down the tracks, they argue. Instead, CSX sold the obsolete railbed to the city two years later for $1.5 million. The city ripped out the trash-covered tracks and completed the 10-mile Monon Trail in 1999, now a treasured public good used by more than a million people each year. "What the city did when they came out and took control of the Monon Trail and developed it for a trail was improper," Tom Malapit, a property rights attorney with Malapit & Rochford, said to a room full of concerned homeowners at a neighborhood meeting May 7. "They should have, under normal eminent domain, come to (the) property owners and made (them) an offer." The city disputes Malapit's interpretation of decades-old Hamilton County court rulings that settled ownership along the Monon. When CSX sold the railroad bed to the city, the firm also transferred its right-of-way easement, Department of Public Works spokesman Kyle Bloyd said in an emailed statement. That easement granted the city the right to use the land, DPW says. In fact, city officials argue that homeowners who have built fences or garden beds close to the trail in the last three decades have encroached on the city's easement. The city now wants to buy the property it already has the right to use. "In order to clear up title to this land, to expand the Monon Trail, and to continue the operation of the Trail for and on behalf of the public," the DPW statement says, "the city has determined that the best course of action is to acquire fee title to the land on which it currently owns an easement." The situation is escalating as DPW moves beyond making initial cash offers to invoking eminent domain, the government's constitutional right to claim private land for public use and pay just compensation to the owners. There's precedent for using eminent domain against homeowners along the Monon who resist government land-taking. The city of Carmel pursued eminent domain lawsuits against at least eight land owners to pave the way for the 2002 opening of the trail north of the county line. DPW has already widened the trail south of 56th Street after taking over adjacent properties, officials told IndyStar. The city has acquired more than half of about 300 total parcels along the Monon from 10th Street to 96th Street and is in the process of buying roughly 60 more tracts, according to DPW. But officials always knew the area between 56th Street and Kessler Boulevard, where homeowners have built especially close to the trail, could pose more issues. "The other (homes), in that Forest Hills and Canterbury Park area, we knew would be more challenging because of the amount of encroachments," DPW Project Manager Gretchen Zortman said. DPW says the city is negotiating the size of land taken on a case-by-case basis among the roughly 70 parcels in those neighborhoods and will compromise in some instances, as it did with a homeowner whose brick wall would have been costly to remove. The city may also pay to help move fences and relocate other encroachments, DPW officials said. More: Now beloved, the Monon Trail was once controversial plan to transform trash-filled tracks Taylor, the Forest Hills homeowner, recently heard from a land acquisition contractor hired by DPW, who offered him about $5,000 for a portion of his backyard. Taylor is adamant that he doesn't want to sell any of his property and that the city is in the wrong. He and other homeowners could work with property rights attorneys to fight the city's eminent domain lawsuits or try to minimize how much land the city takes. "They finally discovered that we could sue them for what they have done," Taylor told IndyStar, "and now they're going to try to use eminent domain to take it back and pay a pittance for what it's worth and use this smoke screen of widening the Monon." Most of the homeowners agree the Monon Trail is a boon for their neighborhood and want the city to widen and repave the sections north of 56th Street for the first time. But many say the cash offers are far too low and would take land away from what they consider their backyards. Chris Carson, a Canterbury-Chatard homeowner, said the city is offering him about $6,000 for a 33-foot wide tract of land that extends past his fence into his backyard. He wants to limit the land taken to his fence line and the city's total right-of-way to a 20-foot-wide corridor. "I want the trail to be widened and repaved. I don't really want to be paid," Carson said. "I want to keep my backyard." Courtney Cady and her husband bought their home near Canterbury Park in 2020 because they wanted to live right on the Monon. After the recent neighborhood meeting, though, she was kneeling along the trail she loves with a tape measurer and despairing over the results. A small staircase leads up to a newly installed $10,000 fence that shields Cady's yard from passersby. Both the staircase, which was there before she moved in, and the new fence would likely fall within the 66-foot corridor. So would the honeysuckle bushes that screen the backyard from the trail. The city is offering Cady only about $1,100 for a 33-foot-wide swath of her land, she said. She would be willing to donate a smaller portion along the path if the city agreed to leave the rest of her property alone. "If they were to come into our property and cut down trees and be in our yard, I would rather not have this home," she said. "That's totally impeding why we bought this property and put up a half-privacy fence and have this greenery."
Yahoo
17-04-2025
- Business
- Yahoo
CSX Corp (CSX) Q1 2025 Earnings Call Highlights: Navigating Challenges with Strategic Resilience
Total Revenue: $3.4 billion, down 7% from the same period last year. Total Volume: Decreased 1% compared to last year. Intermodal Volumes: Increased 2% due to an uptick in port traffic. Earnings Per Share (EPS): Decreased by 24%. Merchandise Revenue and Volume: Both declined 2%. Coal Revenue: Declined 27% on 9% lower volume. Intermodal Revenue: Down 3% despite a 2% increase in volume. Expenses: Increased by 2%, with $45 million additional costs related to network disruptions and severe winter weather. Free Cash Flow: Stable in the first quarter. Capital Expenditures: $133 million spent on Blue Ridge Subdivision rebuild project. Cash Return to Shareholders: Nearly $1 billion in the first quarter. Warning! GuruFocus has detected 5 Warning Signs with CSX. Release Date: April 16, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. CSX Corp (NASDAQ:CSX) reported a 2% increase in intermodal volumes, driven by an uptick in port traffic. The company saw a third straight sequential decline in its FRA injury rate, indicating improvements in safety. CSX Corp (NASDAQ:CSX) achieved a record with four automotive terminals winning industry awards for service excellence. The company has a strong pipeline of nearly 600 industrial development projects, with 24 new facilities going live in the first quarter. CSX Corp (NASDAQ:CSX) maintained strong customer relationships, evidenced by high net promoter scores despite operational challenges. Total revenue for the quarter decreased by 7% year-over-year, primarily due to lower benchmark coal prices and reduced fuel surcharge. Earnings per share fell by 24%, reflecting reduced revenues and network performance challenges. Operational disruptions, including severe weather and infrastructure projects, led to inefficiencies and increased expenses. The company faced a 9% decline in coal volume, impacted by lower export prices and temporary mine outages. CSX Corp (NASDAQ:CSX) experienced challenges in network fluidity, with increased dwell times and yard congestion affecting service metrics. Q: Can you break down the operational challenges CSX is facing, particularly with the Howard Street Tunnel project and weather impacts? A: Joseph Hinrichs, President and CEO, explained that the challenges are due to a series of compounding events, including infrastructure projects like the Howard Street Tunnel and severe weather. The focus is on reducing cars online and working closely with customers to manage excess inventory. Additional resources, such as locomotives and mechanical staff, are being deployed to improve network fluidity. Q: With the operational challenges, can we expect a typical improvement in operating margins from Q1 to Q2? A: Sean Pelkey, CFO, stated that while Q2 is typically better than Q1, the magnitude of improvement depends on the macro environment and operational recovery. The company is not adding significant costs, and as operations improve, there is potential for revenue growth. Q: How are customer relationships being managed amid the current disruptions, and what is the impact of tariffs on customer strategies? A: Kevin Boone, EVP of Sales and Marketing, clarified that no major contracts have been lost. The focus is on maintaining strong communication with customers to mitigate disruptions. Regarding tariffs, the situation is fluid, but there are potential long-term benefits from increased U.S. industrial production. Q: What is the outlook for CSX's volume growth and profitability given the current challenges? A: Joseph Hinrichs emphasized that while Q1 was challenging, the fundamentals of CSX's strategy remain sound. The company expects volume growth for the full year, with improvements in network performance anticipated as infrastructure projects progress and macro conditions stabilize. Q: Can you provide more details on the revenue opportunities that were missed due to operational issues? A: Kevin Boone noted that while some opportunities were perishable, there is still significant potential to capture demand in Q2 as network performance improves. The company is focused on meeting current market demand levels and leveraging strong customer relationships. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio
Globe and Mail
16-04-2025
- Business
- Globe and Mail
CSX Corp. Announces First Quarter 2025 Results
JACKSONVILLE, Fla., April 16, 2025 (GLOBE NEWSWIRE) -- CSX Corp. (NASDAQ: CSX) today announced first quarter 2025 operating income of $1.04 billion compared to $1.34 billion in the prior year period. Net income was $646 million, or $0.34 per diluted share, compared to $880 million, or $0.45 per diluted share, in the same period last year. 1 Total volume of 1.52 million units for the quarter was 1% lower compared to first quarter 2024. Revenue totaled $3.42 billion for the quarter, decreasing 7% year-over-year, as declines in coal revenue, fuel surcharge, and merchandise volume were only partially offset by the effects of higher merchandise pricing and growth in intermodal volume. 'CSX faced operational challenges to start the year, which contributed to first quarter results that did not meet our expectations,' said Joe Hinrichs, president and chief executive officer. 'In response, our talented and dedicated team of railroaders are working together to lift our performance and drive success through an uncertain market outlook. We are taking targeted actions to address the network constraints posed by two major ongoing infrastructure projects, and we remain committed to safely and reliably serving our customers.' CSX executives will conduct a conference call with the investment community this afternoon, April 16, at 4:30 p.m. Eastern Time. Investors, media and the public may listen to the conference call by dialing 1-888-510-2008. For callers outside the U.S., dial 1-646-960-0306. Participants should dial in 10 minutes prior to the call and enter in 3368220 as the passcode. In conjunction with the call, a live webcast will be accessible and presentation materials will be posted on the company's website at Following the earnings call, a webcast replay of the presentation will be archived on the company website. This earnings announcement, as well as additional detailed financial information, is contained in the CSX Quarterly Financial Report available through the company's website at and on Form 8-K with the Securities and Exchange Commission. 1 Year-over-year comparisons for operating income and earnings per share utilize revised financial results for past periods, as described in the annual report filed on Form 10-K. About CSX and its Disclosures 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. This announcement, as well as additional financial information, is available on the company's website at CSX also uses social media channels to communicate information about the company. Although social media channels are not intended to be the primary method of disclosure for material information, it is possible that certain information CSX posts on social media could be deemed to be material. Therefore, we encourage investors, the media, and others interested in the company to review the information we post on X, formerly known as Twitter, ( and on Facebook ( The social media channels used by CSX may be updated from time to time. More information about CSX Corporation and its subsidiaries is available at Non-GAAP Disclosure CSX reports its financial results in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP). CSX also uses certain non-GAAP measures that fall within the meaning of Securities and Exchange Commission Regulation G and Regulation S-K Item 10(e), which may provide users of the financial information with additional meaningful comparison to prior reported results. Non-GAAP measures do not have standardized definitions and are not defined by U.S. GAAP. Therefore, CSX's non-GAAP measures are unlikely to be comparable to similar measures presented by other companies. The presentation of these non-GAAP measures should not be considered in isolation from, as a substitute for, or as superior to the financial information presented in accordance with GAAP. Forward-looking Statements This information and other statements by the company may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act with respect to, among other items: projections and estimates of earnings, revenues, margins, volumes, rates, cost-savings, expenses, taxes, liquidity, capital expenditures, dividends, share repurchases or other financial items, statements of management's plans, strategies and objectives for future operations, and management's expectations as to future performance and operations and the time by which objectives will be achieved, statements concerning proposed new services, and statements regarding future economic, industry or market conditions or performance. Forward-looking statements are typically identified by words or phrases such as 'will,' 'should,' 'believe,' 'expect,' 'anticipate,' 'project,' 'estimate,' 'preliminary' and similar expressions. Forward-looking statements speak only as of the date they are made, and the company undertakes no obligation to update or revise any forward-looking statement. If the company updates any forward-looking statement, no inference should be drawn that the company will make additional updates with respect to that statement or any other forward-looking statements. Forward-looking statements are subject to a number of risks and uncertainties, and actual performance or results could differ materially from that anticipated by any forward-looking statements. Factors that may cause actual results to differ materially from those contemplated by any forward-looking statements include, among others: (i) the company's success in implementing its financial and operational initiatives; (ii) changes in domestic or international economic, political or business conditions, including those affecting the transportation industry (such as the impact of industry competition, conditions, performance and consolidation); (iii) legislative or regulatory changes; (iv) the inherent business risks associated with safety and security; (v) the outcome of claims and litigation involving or affecting the company; (vi) natural events such as severe weather conditions or pandemic health crises; and (vii) the inherent uncertainty associated with projecting economic and business conditions. Other important assumptions and factors that could cause actual results to differ materially from those in the forward-looking statements are specified in the company's SEC reports, accessible on the SEC's website at and the company's website at Contact: 904-366-4515 Bryan Tucker, Corporate Communications 855-955-6397
Yahoo
16-04-2025
- Business
- Yahoo
CSX Corp. Announces First Quarter 2025 Results
JACKSONVILLE, Fla., April 16, 2025 (GLOBE NEWSWIRE) -- CSX Corp. (NASDAQ: CSX) today announced first quarter 2025 operating income of $1.04 billion compared to $1.34 billion in the prior year period. Net income was $646 million, or $0.34 per diluted share, compared to $880 million, or $0.45 per diluted share, in the same period last year. 1 Total volume of 1.52 million units for the quarter was 1% lower compared to first quarter 2024. Revenue totaled $3.42 billion for the quarter, decreasing 7% year-over-year, as declines in coal revenue, fuel surcharge, and merchandise volume were only partially offset by the effects of higher merchandise pricing and growth in intermodal volume. 'CSX faced operational challenges to start the year, which contributed to first quarter results that did not meet our expectations,' said Joe Hinrichs, president and chief executive officer. 'In response, our talented and dedicated team of railroaders are working together to lift our performance and drive success through an uncertain market outlook. We are taking targeted actions to address the network constraints posed by two major ongoing infrastructure projects, and we remain committed to safely and reliably serving our customers.' CSX executives will conduct a conference call with the investment community this afternoon, April 16, at 4:30 p.m. Eastern Time. Investors, media and the public may listen to the conference call by dialing 1-888-510-2008. For callers outside the U.S., dial 1-646-960-0306. Participants should dial in 10 minutes prior to the call and enter in 3368220 as the passcode. In conjunction with the call, a live webcast will be accessible and presentation materials will be posted on the company's website at Following the earnings call, a webcast replay of the presentation will be archived on the company website. This earnings announcement, as well as additional detailed financial information, is contained in the CSX Quarterly Financial Report available through the company's website at and on Form 8-K with the Securities and Exchange Commission. 1Year-over-year comparisons for operating income and earnings per share utilize revised financial results for past periods, as described in the annual report filed on Form 10-K. About CSX and its Disclosures 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. This announcement, as well as additional financial information, is available on the company's website at CSX also uses social media channels to communicate information about the company. Although social media channels are not intended to be the primary method of disclosure for material information, it is possible that certain information CSX posts on social media could be deemed to be material. Therefore, we encourage investors, the media, and others interested in the company to review the information we post on X, formerly known as Twitter, ( and on Facebook ( The social media channels used by CSX may be updated from time to time. More information about CSX Corporation and its subsidiaries is available at Non-GAAP Disclosure CSX reports its financial results in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP). CSX also uses certain non-GAAP measures that fall within the meaning of Securities and Exchange Commission Regulation G and Regulation S-K Item 10(e), which may provide users of the financial information with additional meaningful comparison to prior reported results. Non-GAAP measures do not have standardized definitions and are not defined by U.S. GAAP. Therefore, CSX's non-GAAP measures are unlikely to be comparable to similar measures presented by other companies. The presentation of these non-GAAP measures should not be considered in isolation from, as a substitute for, or as superior to the financial information presented in accordance with GAAP. Forward-looking Statements This information and other statements by the company may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act with respect to, among other items: projections and estimates of earnings, revenues, margins, volumes, rates, cost-savings, expenses, taxes, liquidity, capital expenditures, dividends, share repurchases or other financial items, statements of management's plans, strategies and objectives for future operations, and management's expectations as to future performance and operations and the time by which objectives will be achieved, statements concerning proposed new services, and statements regarding future economic, industry or market conditions or performance. Forward-looking statements are typically identified by words or phrases such as 'will,' 'should,' 'believe,' 'expect,' 'anticipate,' 'project,' 'estimate,' 'preliminary' and similar expressions. Forward-looking statements speak only as of the date they are made, and the company undertakes no obligation to update or revise any forward-looking statement. If the company updates any forward-looking statement, no inference should be drawn that the company will make additional updates with respect to that statement or any other forward-looking statements. Forward-looking statements are subject to a number of risks and uncertainties, and actual performance or results could differ materially from that anticipated by any forward-looking statements. Factors that may cause actual results to differ materially from those contemplated by any forward-looking statements include, among others: (i) the company's success in implementing its financial and operational initiatives; (ii) changes in domestic or international economic, political or business conditions, including those affecting the transportation industry (such as the impact of industry competition, conditions, performance and consolidation); (iii) legislative or regulatory changes; (iv) the inherent business risks associated with safety and security; (v) the outcome of claims and litigation involving or affecting the company; (vi) natural events such as severe weather conditions or pandemic health crises; and (vii) the inherent uncertainty associated with projecting economic and business conditions. Other important assumptions and factors that could cause actual results to differ materially from those in the forward-looking statements are specified in the company's SEC reports, accessible on the SEC's website at and the company's website at Contact: Matthew Korn, CFA, Investor Relations 904-366-4515 Bryan Tucker, Corporate Communications 855-955-6397Sign in to access your portfolio
