Core Insights - CSX's results and outlook were significantly affected by Hurricanes Helene and Milton, leading to a miss in both profit and sales estimates for the third quarter [1][2] - The company reported third-quarter earnings per share (EPS) of $0.46, with revenue increasing by 1.3% year-over-year to $3.62 billion, both falling short of analyst expectations [1] - CSX anticipates a challenging fourth quarter, predicting a revenue decline of approximately $200 million due to falling fuel prices and weaker coal markets [2] Financial Performance - Third-quarter EPS was $0.46, with revenue at $3.62 billion, reflecting a 1.3% year-over-year increase [1] - Revenue growth was constrained by a decrease in coal revenue, lower fuel surcharges, and other revenue declines [1] Outlook and Challenges - The company revised its fourth-quarter outlook, indicating that external factors will make it more challenging, with modest volume growth expected [2] - CSX expects a sequential operating margin reduction in Q4 due to the impact of the storms and declining revenue [2] - Capital expenditures (CapEx) are projected at $2.5 billion, excluding costs for rebuilding hurricane-damaged infrastructure [2]

CSX Corporation's (CSX) third-quarter 2024 earnings per share of 46 cents fell short of the Zacks Consensus Estimate by two cents. However, the bottom line increased on a year-over-year basis on the back of higher revenues as freight volumes grew.Find the latest EPS estimates and surprises on Zacks Earnings Calendar.Total revenues of $3.62 billion increased 1% year over year, driven by merchandise pricing gains and growth in intermodal and merchandise volumes. The positives outweighed the negatives like low ...

NEW YORK, Oct. 17, 2024 (GLOBE NEWSWIRE) -- First Responders Children’s Foundation (FRCF), a national 501(c)3 organization dedicated to serving the children of U.S. first responders including firefighters, police officers, paramedics, EMTs, corrections officers, and 911 dispatchers, announced – in partnership with CSX – the names of 10 students who will receive the CSX Pride in Service Scholarship for the 2024/2025 academic year. FRCF and CSX have awarded individual scholarships to deserving children of fir ...

U.S. stock futures were mostly higher this morning, with the Nasdaq futures gaining around 100 points on Thursday.Shares of CSX Corporation CSX fell sharply in today's pre-market trading after the company reported third-quarter earnings below analyst estimates.CSX reported quarterly GAAP earnings of 46 cents per share, which missed the consensus estimate of 48 cents per share. Quarterly revenue came in at $3.62 billion, also missing the consensus estimate of $3.676 billion. The company said its total volume ...

CSX Corporation (NASDAQ:CSX) Q3 2024 Results Conference Call October 16, 2024 4:30 PM ET Company Participants Matthew Korn - Head of Investor Relations and Strategy Joe Hinrichs - President and Chief Executive Officer Mike Cory - Executive Vice President and Chief Operating Officer Kevin Boone - Executive Vice President and Chief Commercial Officer Sean Pelkey - Executive Vice President and Chief Financial Officer Conference Call Participants Brian Ossenbeck - JPMorgan Ari Rosa - Citi Jonathan Chappell - Ev ...

Wednesday, October 16th, 2024Markets were up across the board today, with the blue-chip Dow notching yet another all-time closing high. The Dow gained +337 points, +0.79%, for the session. The S&P 500, which had last posted an all-time closing high on Monday, was just short today, up +0.47% but 14 points off its Monday closing high.The tech-heavy Nasdaq, which hasn’t reached a new closing high since July of this year, was the relative laggard among top indexes: +0.28%. The small-cap Russell 2000, three full ...

For the quarter ended September 2024, CSX (CSX) reported revenue of $3.62 billion, up 1.3% over the same period last year. EPS came in at $0.46, compared to $0.42 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $3.68 billion, representing a surprise of -1.56%. The company delivered an EPS surprise of -4.17%, with the consensus EPS estimate being $0.48.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they comp ...

CSX (CSX) came out with quarterly earnings of $0.46 per share, missing the Zacks Consensus Estimate of $0.48 per share. This compares to earnings of $0.42 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -4.17%. A quarter ago, it was expected that this freight railroad would post earnings of $0.48 per share when it actually produced earnings of $0.49, delivering a surprise of 2.08%.Over the last four quarters, the company has s ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (☒) QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 OR (☐) TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Commission File Number 1-8022 CSX CORPORATION (Exact name of registrant as specified in its charter) Virginia 62-10519 ...

Financial Performance - Q3 2024 operating income increased to $1.35 billion, up 7% year-over-year from $1.27 billion in Q3 2023[1] - Net earnings for Q3 2024 were $894 million, or $0.46 per diluted share, compared to $828 million, or $0.41 per diluted share, in Q3 2023[1] - Revenue for Q3 2024 totaled $3.62 billion, a 1% increase year-over-year, driven by growth in merchandise and intermodal volume[3] - Operating margin for Q3 2024 was 37.4%, up 180 basis points year-over-year[3] - Diluted EPS for Q3 2024 was $0.46, a 12% increase compared to the prior year quarter[3] - Net Earnings for the nine months ended September 30, 2024, were $2.737 billion, compared to $2.786 billion for the same period in 2023[19] - CSX's Economic Profit for nine months ended Sep 30, 2024 was $1.865 billion, compared to $1.993 billion in the same period of 2023[63] - CSX's operating income for nine months ended Sep 30, 2024 was $4.139 billion, compared to $4.184 billion in 2023[63] - Gross Cash Earnings (GCE) for nine months ended Sep 30, 2024 was $4.643 billion, slightly down from $4.647 billion in 2023[63] - Free Cash Flow (FCF) before dividends decreased by $301 million to $2.218 billion in nine months ended Sep 30, 2024 compared to 2023[66] Volume and Revenue - Total volume for Q3 2024 was 1.59 million units, a 3% increase compared to Q3 2023[1] - Total revenue increased 1% in Q3 2024 compared to Q3 2023, driven by higher merchandise and intermodal volumes, partially offset by lower coal revenue and fuel recovery[41] - Chemicals volume increased 9% in Q3 2024, with revenue up 13% to $727 million, driven by higher shipments of plastics, crude oil, and natural gas liquids[38][43] - Intermodal volume increased 3% in Q3 2024, with international shipments rising due to higher east coast port volumes, while domestic shipments remained flat[38][44] - Coal volume decreased 2% in Q3 2024, with domestic coal down 12% and export coal up 10%[38][46] - Total revenue ton-miles increased 2% in Q3 2024 to 48.8 billion, with merchandise up 4% and intermodal up 1%[53] Expenses and Costs - Labor and fringe expenses increased by 6% to $806 million in Q3 2024 compared to $761 million in Q3 2023[14] - Fuel expenses decreased by 21% to $276 million in Q3 2024 from $349 million in Q3 2023[14] - Total expenses decreased 2% in Q3 2024 to $2.3 billion, with labor and fringe costs up $45 million due to inflation and higher headcount[49] - Locomotive fuel consumption decreased 9% in Q3 2024, with fuel costs down 17% due to lower fuel prices and improved efficiency[51] - Fuel surcharge revenue decreased to $245 million in Q3 2024 from $266 million in Q3 2023, with a favorable fuel lag of $10 million[42] Cash Flow and Capital - Net Cash Provided by Operating Activities for the nine months ended September 30, 2024, was $3.859 billion, down from $4.025 billion in 2023[19] - Net Cash Used in Investing Activities for the nine months ended September 30, 2024, was $1.722 billion, compared to $1.506 billion in 2023[20] - Net Cash Used in Financing Activities for the nine months ended September 30, 2024, was $1.846 billion, down from $3.092 billion in 2023[22] - Cash and Cash Equivalents at the End of the Period were $1.644 billion for September 30, 2024, compared to $1.360 billion in 2023[22] - Property additions increased to $1.691 billion in nine months ended Sep 30, 2024 from $1.571 billion in 2023[66] Balance Sheet and Debt - Total assets as of September 30, 2024, were $43.069 billion, up from $42.212 billion as of December 31, 2023[17] - Long-term debt increased to $18.535 billion as of September 30, 2024, from $17.975 billion as of December 31, 2023[16] - CSX's Gross Operating Assets (GOA) increased to $46.3 billion in 2024 from $44.229 billion in 2023[63] - Capital Charge for nine months ended Sep 30, 2024 was $2.778 billion, up from $2.654 billion in 2023[63] Share Repurchases - Shares Repurchased during the nine months ended September 30, 2024, were 35 million at a cost of $1.212 billion, compared to 94 million shares at $2.901 billion in 2023[36] - Average Cost per Share Repurchased during the nine months ended September 30, 2024, was $34.60, up from $30.99 in 2023[36] Operational Metrics - Train velocity improved 6% in Q3 2024 to 18.6 miles per hour, while dwell time increased 7% to 10.3 hours[53] - FRA personal injury frequency increased 16% in Q3 2024, while the train accident rate decreased 25%[54][55] - The inclusion of Pan Am network data in operations performance metrics since Q2 2023 had an insignificant impact[56] - Safety metrics will include Pan Am network results starting January 1, 2024, with insignificant impact[56] Tax and Investment Criteria - The company uses a 15% tax rate and 8% required return rate for Economic Profit calculations, consistent with investment decision criteria[61] Revisions - Operating Income for the nine months ended September 30, 2023, was revised to $4.184 billion from $4.241 billion due to adjustments[30] - Net Earnings for the nine months ended September 30, 2023, were revised to $2.786 billion from $2.829 billion[30]