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Globe and Mail
6 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 (
Yahoo
24-07-2025
- Business
- Yahoo
CSX profits fall on lower revenue, higher costs
CSX's second-quarter profits slumped as unfavorable changes in traffic mix drove a revenue decline and costs rose amid congestion and detours related to a pair of main line outages. But executives said they were encouraged by the pace of the railroad's (NASDAQ: CSX) operational recovery during the quarter, which produced improvements in on-time performance. 'We are proud of how our network performance has bounced back from the challenges of the first quarter,' Chief Executive Joe Hinrichs told investors and analysts on the railroad's earnings call Wednesday. The railroad's operating income declined 11%, to $1.28 billion, as revenue decreased 3%, to $3.57 billion. Earnings per share declined 10%, to 44 cents. CSX's operating ratio, including its trucking operations, was 64.1, a 3.2-point increase from a year ago as expenses rose 2%. Overall quarterly volume was flat. Intermodal was up 2%, merchandise declined 2%, and coal volume increased 1%. International intermodal volume grew during the quarter, while domestic volume was stable. In the merchandise segment, growth in metals, minerals, and agricultural shipments were not enough to offset declines in automotive, forest products, chemicals, and fertilizer traffic. 'Many of the industrial markets we serve continue to face challenges with uncertainty around tariffs, trade, interest rates, and the overall direction of the economy,' Chief Commercial Officer Kevin Boone said. CSX still expects overall volume growth this year thanks to dozens of industrial development projects coming on line and conversion of freight from highway to intermodal, Boone said. CSX also is encouraged by the progress of its new Southeast Mexico Express interline intermodal service launched with Canadian Pacific Kansas City in December via their new interchange at Myrtlewood, Ala., on the former Meridian & Bigbee short line. The Howard Street Tunnel clearance project remains on schedule toward completion early in the fourth quarter, while related bridge clearance work in Baltimore is on pace for completion in the second quarter of 2026. The tunnel will reopen when work is complete, allowing CSX to end daily detours around Baltimore. The tunnel and bridge clearance work will open up the carrier's I-95 corridor for double-stack intermodal service for the first time and allow Baltimore-Midwest stack traffic to take the direct route via the former Baltimore & Ohio main line, rather than the current roundabout routing via Selkirk, N.Y., on the former New York Central Water Level Route. Work to reopen the hurricane-damaged Blue Ridge Subdivision – the former Clinchfield Railroad in rugged western North Carolina and eastern Tennessee – is expected to be completed on schedule in the fourth quarter, as well. 'We are very pleased with the progress that has been made at our Howard Street Tunnel and Blue Ridge rebuild projects. We expect completion in the fourth quarter, which will remove two key constraints from our network,' Hinrichs said. 'Finishing these two projects will open back up two of our four north-south routes, and … we're excited about removing the last impediment to double stack intermodal on the I-95 corridor.' A string of harsh weather, combined with the main line outages, led to congestion after the Feb. 1 shutdown of the Howard Street Tunnel. CSX's operations accelerated as the quarter went on, with average train speed increasing 8% from April through June and dwell declining by 18%. The number of cars online — a key congestion metric — declined 10% as the quarter progressed. 'Our recovery is a true testament to the hard work and dedication of every railroader at CSX,' Chief Operating Officer Mike Cory said. Intermodal trip-plan compliance held steady at 90% compared to the first quarter but was down 4 points compared to a year ago. Merchandise trip-plan compliance of 75% was 6 points higher than the first quarter but 5 points lower than a year ago. Customer switch data of 94% was flat compared to last year's second quarter and a 1-point improvement over the first quarter. The on-time performance figures are not yet where CSX wants them, Cory says, but he expects ongoing improvement, particularly after the Howard Street and Blue Ridge projects wrap up and allow the railroad to end the related detours of up to 22 trains per day. 'While these projects unlock significant capacity for the entire network, we are also upgrading our capacity and throughput at our yard in Indianapolis, with the extension of the hump pullback,' Cory said of Avon Yard in Indiana, one of five hump yards on the system. 'While this project is small in nature relative to the other two, it'll give us the ability to hump more cars … at a very critical yard in our network.' Despite the service issues, CSX's customers gave the railroad the highest marks ever in a second-quarter internal survey, Boone said. And Hinrichs added regulators received zero complaints from shippers despite the impact of congestion. Subscribe to FreightWaves' Rail e-newsletter and get the latest insights on rail freight right in your look: Weaker coal, carloads hit CSX earnings As merger talk heats up, deep bench will advise rail regulator Analysis: What a Union Pacific – Norfolk Southern merger would look like BNSF aims to grow carload traffic with rail service upgrades The post CSX profits fall on lower revenue, higher costs appeared first on FreightWaves. 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
Globe and Mail
13-05-2025
- Business
- Globe and Mail
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 18 th 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.
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
Yahoo
14-04-2025
- Business
- Yahoo
CSX Honors 62 Customers with Annual Chemical Safety Excellence Award
JACKSONVILLE, Fla., April 14, 2025 (GLOBE NEWSWIRE) -- CSX Corporation (NASDAQ: CSX) has recognized 62 customers with its 31st Annual Chemical Safety Excellence Award for their dedication to safely transporting hazardous materials across the company's rail network in 2024. For more than three decades, the award has honored chemical customers who prioritize safety in every shipment, reflecting their commitment to protecting CSX employees, the surrounding communities, and the environment. It also underscores rail as the safest mode of land transportation for hazardous chemicals. To qualify, customers must ship at least 600 carloads of hazardous materials during the year with zero non-accidental releases of regulated substances. The 2024 award recipients collectively shipped 164,438 carloads safely, demonstrating the highest level of operational excellence. This year's accolades included special recognition for Citgo Petroleum and Westlake Corporation, which achieved a milestone of five consecutive years of accident-free shipments. 'Safety is at the core of everything we do at CSX,' said Kevin Boone, executive vice president and chief commercial officer. 'The customers honored with this award are true partners in our shared commitment to reducing risks and enhancing safety. Together, we're building safer, stronger communities.' CSX remains dedicated to fostering lasting partnerships that promote safety and innovation within the rail industry. The company congratulates all 62 honorees for their commitment to best practices in hazardous materials transportation. For more information about CSX and its safety initiatives, visit 2024 CSX Chemical Safety Excellence Award Winners: ADVANSIX INC. GUNVOR USA LLC OCCIDENTAL CHEMICAL ALPEK POLYESTER USA LLC HERITAGE ENVIRONMENTAL SERVICES LLC OLIN CORP ADM H.J. BAKER PBF HOLDING COMPANY LLC ARKEMA INC HUNTSMAN PHILLIPS 66 COMPANY BEFESA ZINC US INC INEOS STYROLUTION PLAINS ALL AMERICAN PIPELINE LP BP PRODUCTS NORTH AMERICA INC INV NYLON CHEMICALS AMERICAS LLC REAGENT CHEMICAL BRENNTAG GLOBAL MARKETING LLC IRVING OIL RENEWABLE PRODUCTS MARKETING GROUP CEDAR MOUNTAIN ENVIROMENTAL INC JONES-HAMILTON CO. SHELL CHEMICAL CELANESE CORPORATION KEMIRA SHINTECH CENOVUS ENERGY INC KOCH INDUSTRIES STEEL DUST RECYCLING LLC CHEVRON CORPORATION KOCH METHANOL LLC SUNCOR ENERGY CHS INC KOPPERS INC. TARGA RESOURCES INC CITGO PETROLEUM KRATON CHEMICAL LLC THE ANDERSONS INC COVESTRO LLC LYONDELLBASELL INDUSTRIES THE CHEMOURS COMPANY LLC CRESTWOOD SERVICES LLC MPLX LLC TPC GROUP LLC EASTMAN CHEMICAL MESSER NORTH AMERICA INC TRAFIGURA TRADING LLC ENERGYSOLUTIONS INC METHANEX UNIVAR SOLUTIONS USA LLC EPIC MOSAIC COMPANY WESTLAKE CORPORATION EQUINOR MARKETING & TRADING INC NAN YA PLASTICS CORPORATION EVONIK DEGUSSA CORPORATION NEXPERA LLC EXXONMOBIL NORFALCO SALES, GLENCORE CANADA CORP GIBSON ENERGY LTD NUCOR STEEL 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 ( Matthew Korn, CFA, Investor Relations904-366-4515 Bryan Tucker, Corporate Communications855-955-6397Sign in to access your portfolio
