Welcome to our dedicated page for CSX Corporation news (Ticker: CSX), a resource for investors and traders seeking the latest updates and insights on CSX Corporation stock.
CSX Corporation, headquartered in Jacksonville, Florida, is one of the United States' premier transportation providers. The company's rail and intermodal businesses offer a range of rail-based transportation services, including traditional rail service and the transport of intermodal containers and trailers. Using a comprehensive network of approximately 21,000 route miles of track across 23 states, the District of Columbia, Ontario, and Quebec, CSX connects major population centers and serves about two-thirds of the American population.
CSX's extensive network provides access to over 70 ocean, river, and lake port terminals along the Atlantic and Gulf coasts, the Mississippi River, the Great Lakes, and the St. Lawrence Seaway. Additionally, through alliances with western railroads, CSX has access to Pacific ports, extending its reach globally.
As a vital player in the U.S. economy, CSX transports a diverse range of products. In 2023, the company generated around $14.7 billion in revenue, moving commodities such as coal (16% of revenue), chemicals (17%), intermodal containers (16%), and automotive cargo (7%).
One of CSX's recent achievements includes becoming the first U.S. Class I railroad to extend paid sick leave agreements to its contract workers, significantly enhancing the well-being of its employees. The company has negotiated with several unions, including BMWED, BRC, SMART-TD, IAM, NCFO, and IBEW, to offer this benefit to thousands of workers.
In the realm of community engagement, CSX has made a transformational gift to the Museum of Science & History (MOSH) in Jacksonville, supporting the MOSH Genesis capital campaign. This initiative aims to build a new, state-of-the-art museum on the Northbank of the St. Johns River, enhancing educational and cultural opportunities for the region.
CSX is also committed to sustainability and innovation. The company has recently debuted its first hydrogen-powered locomotive, converted from an existing diesel unit. This initiative is part of a collaboration with CPKC to advance hydrogen technology, aiming to provide more efficient and zero-emission transportation solutions.
For nearly 200 years, CSX Corporation has played a critical role in America's economic expansion and industrial development, linking major metropolitan areas, short-line railroads, and numerous ports. CSX continues to leverage its extensive network to provide reliable transportation services, driving progress and connectivity across the nation.
CSX has achieved record safety performance by making substantial investments in infrastructure and technology, enhancing its workforce, and fostering a safety-centric culture. In 2023, the company is dedicating $1.7 billion of its $2.3 billion capital budget to core projects. Since 2019, CSX has led Class I railroads in the fewest train accidents and injuries. Key initiatives include updating hot bearing detectors and acoustic bearing detectors, deploying automated inspection portals, and utilizing autonomous track assessment cars. CSX is focused on maintaining safety and operational excellence while expanding its workforce and improving employee quality of life.
CSX (NASDAQ: CSX) announced its participation in the Federal Railroad Administration’s Confidential Close Call Reporting System (C3Rs) on March 2, 2023. This initiative underscores CSX's commitment to employee safety and fostering a positive work environment. CEO Joe Hinrichs emphasized the importance of collective responsibility in safety practices across the company. CSX has existing programs allowing employees to report safety concerns anonymously, ensuring their voices are heard without fear of reprisal. The data collected through these programs is used to enhance training and improve workplace safety measures.
CSX Corp. will be addressed by CEO Joe Hinrichs at the Barclays Industrial Select Conference on February 23, 2023, at 8:00 a.m. ET. The event will be broadcasted via a live webcast on the company’s investor relations website. A replay will be accessible after the event concludes. CSX, a leading transportation company based in Jacksonville, Florida, provides rail and intermodal services across various markets, including energy and industrial sectors. With nearly 200 years of industry experience, CSX plays a vital role in connecting major metropolitan areas in the eastern U.S., serving two-thirds of the nation's population.
On February 15, 2023, CSX Corp. (NASDAQ: CSX) announced a 10% increase in its quarterly dividend, elevating it from $0.10 to $0.11 per share. This new dividend is set to be paid on March 15, 2023, to shareholders on record as of February 28, 2023. CSX continues to strengthen its position as a premier transportation company, offering rail and intermodal services across diverse markets, including energy and agriculture. With nearly 200 years of operation, CSX connects major metropolitan areas and plays a vital role in the U.S. economy.
CSX (NASDAQ: CSX) has reached new agreements with the IAM Roadway Mechanics and Brotherhood of Railway Carmen unions to enhance paid sick leave for railroad workers, marking the sixth agreement in just a week. The company emphasizes its commitment to improving employee experience through collaboration with union partners. Joe Hinrichs, CEO of CSX, highlighted the importance of these partnerships, stating that they demonstrate a commitment to honoring employee contributions. CSX provides crucial transportation services across various markets and plays a significant role in the economic framework of the eastern United States.
CSX has reached agreements with the International Association of Machinists and Aerospace Workers and the National Conference of Firemen and Oilers to provide paid sick leave for its employees. This follows similar agreements with two other unions earlier. CSX's CEO, Joe Hinrichs, emphasized the company’s commitment to employee well-being and collaboration with union partners to enhance the work environment. With a strong focus on the workforce, these agreements reflect CSX's dedication to improving employment experiences for its railroad employees.
CSX announced agreements with two unions providing paid sick leave for around 5,000 workers, including engineering and mechanical staff. The Brotherhood of Maintenance of Way and the Brotherhood of Railway Carmen are the involved unions. CSX CEO Joe Hinrichs emphasized the company's commitment to enhancing employee quality of life through collaboration with unions. The agreements reflect CSX's ongoing efforts to foster strong relationships with its unions as the company employs nearly 4,000 BMWED and over 1,000 BRC workers. CSX aims to pursue similar arrangements with its remaining unions.
CSX Corp. announced its fourth quarter 2022 results, showing an operating income of $1.46 billion, up from $1.37 billion in Q4 2021. The net earnings reached $1.02 billion, or $0.49 per share, compared to $934 million, or $0.42 per share, in the previous year. For the full year, operating income increased by 8% to $6.0 billion. Revenue for the year was $14.9 billion, representing a 19% increase year-over-year. The company highlighted its improved network performance and commitment to enhancing customer service as it prepares for future growth.
CSX has announced that the Central South Carolina Megasite in Lugoff, SC, is now a CSX Select Site, enhancing its appeal for industrial investment. This designation indicates that the site is development-ready, having completed necessary due diligence for manufacturers, thus expediting facility construction. Located near an interstate and a railroad, the 1,426-acre site aims to attract significant projects, creating new jobs and investments. This marks the third site in SC recognized as a CSX Select Site, part of a broader initiative to support industrial growth along the CSX network.
CSX Corp. (NASDAQ: CSX) will announce its fourth quarter financial and operational results on January 25, 2023, after market close. The announcement will be followed by a live conference call at 4:30 p.m. ET. Participants can join via teleconference by calling 1-888-510-2008 (U.S.) or 1-646-960-0306 (international). The passcode is 3368220. Presentation materials and a webcast will be available on the company’s investor relations website, with a replay archived following the call.
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