|
CSX delivers 25% jump in profit as it
hauls more goods and cuts expenses
[April 23, 2026]
By JOSH FUNK
CSX
railroad's profit jumped 25% in the first quarter as the railroad hauled
3% more shipments and cut its expenses.
The Jacksonville, Florida-based railroad said Thursday that it earned
$807 million, or $0.43 per share, as it continued to improve efficiency.
That's up from $646 million, or $0.34 per share, a year ago.
|
A CSX freight pulls through Ohiopyle, Pa., Aug. 19, 2025. (AP Photo/Gene
J. Puskar, File) |
|
CSX
easily topped the expectations of the analysts surveyed by
FactSet Research who predicted earnings per share of 39 cents.
The railroad said it cut expenses by 6% to $2.2 billion in the
quarter as CEO Steve Angel, who took over last fall, continued
to improve operations. At the same time, the railroad's revenue
grew 2% to $3.48 billion.
“CSX performed well this quarter by providing reliable and
efficient service to our customers through changing market
conditions, while improving our expense profile,” Angel said.
The railroad’s executives said many of its efforts to cut costs
across the board started to pay off even quicker than expected,
and the bottom line was helped by a $44 million gain on real
estate sales in the quarter.
The railroad, which is one of the nation's biggest, said it now
expects revenue growth in the mid single digits this year.
Previously, CSX predicted growth in the low single digits.
CSX will soon be able to haul metal shipping containers stacked
two high across its network after completing a major tunnel
renovation project in Baltimore. But it will take time for
traffic to grow as the railroad signs up new customers once the
line is fully open
All contents © copyright 2026 Associated Press. All rights reserved
|
|
|
