CSX Corp. Announces Third Quarter 2024 Results
CSX Corp. (NASDAQ: CSX) reported strong third quarter 2024 results, with operating income rising to $1.35 billion, up 7% from the previous year. Net earnings increased to $894 million, or $0.46 per diluted share, compared to $828 million, or $0.41 per share, in Q3 2023. Total volume grew by 3% to 1.59 million units. Revenue reached $3.62 billion, a 1% year-over-year increase, driven by growth in merchandise and intermodal volume, and merchandise pricing gains. These gains were partially offset by declines in coal revenue and fuel surcharges. The company's operating margin improved to 37.4%, an increase of 180 basis points from the previous year.
CSX Corp. (NASDAQ: CSX) ha riportato risultati solidi nel terzo trimestre del 2024, con un reddito operativo salito a 1,35 miliardi di dollari, in crescita del 7% rispetto all'anno precedente. Gli utili netti sono aumentati a 894 milioni di dollari, ovvero 0,46 dollari per azione diluita, rispetto a 828 milioni di dollari, o 0,41 dollari per azione, nel Q3 2023. Il volume totale è cresciuto del 3% raggiungendo 1,59 milioni di unità. I ricavi hanno toccato 3,62 miliardi di dollari, con un incremento dell'1% rispetto all'anno precedente, sostenuto dalla crescita nei volumi di merci e intermodali, e dai guadagni nei prezzi delle merci. Questi guadagni sono stati parzialmente compensati dai cali nei ricavi del carbone e dai supplementi sui carburanti. Il margine operativo dell'azienda è migliorato al 37,4%, un aumento di 180 punti base rispetto all'anno precedente.
CSX Corp. (NASDAQ: CSX) reportó resultados sólidos en el tercer trimestre de 2024, con un ingreso operativo que subió a 1.35 mil millones de dólares, un aumento del 7% en comparación con el año anterior. Las ganancias netas aumentaron a 894 millones de dólares, o 0.46 dólares por acción diluida, frente a 828 millones de dólares, o 0.41 dólares por acción, en el Q3 2023. El volumen total creció un 3% alcanzando 1.59 millones de unidades. Los ingresos alcanzaron 3.62 mil millones de dólares, un incremento del 1% interanual, impulsado por el crecimiento en el volumen de mercancías y en el intermodal, así como por ganancias en los precios de las mercancías. Estas ganancias fueron parcialmente compensadas por caídas en los ingresos del carbón y recargos por combustible. El margen operativo de la compañía mejoró al 37.4%, un aumento de 180 puntos básicos respecto al año anterior.
CSX Corp. (NASDAQ: CSX)는 2024년 3분기 강력한 실적을 보고했으며, 운영 수익이 13억 5천만 달러로 증가하여 전년 대비 7% 올랐습니다. 순이익은 8억 9천4백만 달러로 증가하였으며, 희석 주당 0.46 달러에 해당하며, 2023년 3분기에서는 8억 2천8백만 달러로, 주당 0.41 달러였습니다. 총 물량은 3% 증가하여 159만 유닛에 도달했습니다. 매출은 36억 2천만 달러에 도달하여, 전년 대비 1% 증가하였고, 이는 상품 및 복합 운송 물량 증가, 그리고 상품 가격 상승에 힘입은 것입니다. 이러한 증가분은 석탄 수익 감소 및 연료 할증으로 인해 부분적으로 상쇄되었습니다. 회사의 운영 마진은 37.4%로 개선되었으며, 이는 전년 대비 180 비센트 포인트 증가한 것입니다.
CSX Corp. (NASDAQ: CSX) a annoncé de solides résultats pour le troisième trimestre 2024, avec un revenu d'exploitation atteignant 1,35 milliard de dollars, en hausse de 7% par rapport à l'année précédente. Le bénéfice net a augmenté à 894 millions de dollars, soit 0,46 dollar par action diluée, contre 828 millions de dollars, soit 0,41 dollar par action, au T3 2023. Le volume total a crû de 3% pour atteindre 1,59 million d'unités. Le chiffre d'affaires a atteint 3,62 milliards de dollars, soit une augmentation de 1% par rapport à l'année précédente, portée par la croissance des volumes de marchandises et intermodaux, ainsi que par des hausses de prix des marchandises. Ces gains ont été partiellement compensés par les baisses de revenus liées au charbon et les surtaxes sur le carburant. La marge opérationnelle de l'entreprise a été améliorée à 37,4%, soit une augmentation de 180 points de base par rapport à l'année précédente.
CSX Corp. (NASDAQ: CSX) berichtete über starke Ergebnisse im dritten Quartal 2024, mit einem Betriebsgewinn von 1,35 Milliarden Dollar, was einem Anstieg von 7% im Vergleich zum Vorjahr entspricht. Der Nettogewinn stieg auf 894 Millionen Dollar, oder 0,46 Dollar pro verwässerter Aktie, im Vergleich zu 828 Millionen Dollar, oder 0,41 Dollar pro Aktie, im Q3 2023. Das Gesamtvolumen wuchs um 3% auf 1,59 Millionen Einheiten. Der Umsatz erreichte 3,62 Milliarden Dollar, was einem Anstieg von 1% im Jahresvergleich entspricht, bedingt durch das Wachstum im Bereich der Waren und intermodalen Volumen sowie durch Preissteigerungen bei Waren. Diese Gewinne wurden teilweise durch Rückgänge bei den Einnahmen aus Kohle und durch Kraftstoffzuschläge ausgeglichen. Die Betriebsgewinnmarge des Unternehmens verbesserte sich auf 37,4%, was einem Anstieg von 180 Basispunkten im Vergleich zum Vorjahr entspricht.
- Operating income increased by 7% to $1.35 billion
- Net earnings rose to $894 million, with EPS growing 12% to $0.46
- Total volume grew by 3% to 1.59 million units
- Revenue increased by 1% to $3.62 billion
- Operating margin improved by 180 basis points to 37.4%
- Decline in coal revenue due to lower global benchmark prices
- Reduction in fuel surcharge revenue
- Decrease in other revenue
Insights
CSX's Q3 2024 results show solid performance with notable improvements across key metrics. Operating income increased 7% to
The company's focus on operational efficiency is evident in the 180 basis point improvement in operating margin to
Volume growth of
CSX's Q3 performance underscores the resilience of rail transportation in the face of economic uncertainties and natural disasters. The company's ability to maintain network flexibility during recent hurricanes is important for customer retention and long-term competitiveness.
The
However, the decline in coal revenue highlights ongoing challenges in this segment, likely due to reduced global demand and lower benchmark prices. This emphasizes the need for CSX to continue diversifying its revenue streams and focusing on high-growth sectors. The company's emphasis on service quality and operational efficiency positions it well to capitalize on the trend of shippers favoring rail for its reliability and cost-effectiveness in the current economic climate.
JACKSONVILLE, Fla., Oct. 16, 2024 (GLOBE NEWSWIRE) -- CSX Corp. (NASDAQ: CSX) today announced third quarter 2024 operating income of
“CSX's commitment to excellent service allowed us to deliver meaningful growth in volume, operating income, and operating margin in the third quarter,” said Joe Hinrichs, president and chief executive officer. “Over the last several weeks CSX, along with many of the communities in which we operate, was presented with significant challenges brought about by the recent hurricanes. Thanks to the dedication of our employees, our network has remained flexible and resilient, and we remain ready to meet our customers’ needs as they increasingly favor the efficiency and reliability being delivered by the ONE CSX team.”
Third Quarter Financial Highlights1
- Revenue totaled
$3.62 billion for the quarter, an increase of1% year-over-year, as growth in merchandise and intermodal volume, as well as merchandise pricing gains, were partially offset by a decline in coal revenue (including the effects of lower global benchmark prices), lower fuel surcharge, and a reduction in other revenue. - Operating income of
$1.35 billion increased7% compared to the same period in 2023. CSX’s operating margin was37.4% for the quarter, increasing 180 basis points year-over-year. - Diluted EPS of
$0.46 increased12% compared to the prior year quarter.
CSX executives will conduct a conference call with the investment community this afternoon, October 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 http://investors.csx.com. 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 http://investors.csx.com 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 notes of our quarterly financial report.
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 http://investors.csx.com. 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, (http://twitter.com/CSX) and on Facebook (http://www.facebook.com/OfficialCSX). 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 www.csx.com.
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 www.sec.gov and the company's website at www.csx.com.
Contact:
Matthew Korn, CFA, Investor Relations
904-366-4515
Bryan Tucker, Corporate Communications
855-955-6397
FAQ
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