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 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.
Quality Carriers, a subsidiary of CSX, has been recognized as a 2022 Top Company for Women to Work For in Transportation by Women in Trucking. This accolade reflects the company's commitment to fostering an inclusive culture that values the contributions of women in various roles, from drivers to leadership. The recognition was announced during the Accelerate conference in Dallas, Texas. Quality Carriers aims to continue promoting diversity, equity, and inclusion within the transportation industry.
CSX Corp. will have its executive vice president of sales & marketing, Kevin Boone, speak at the Stephens Annual Investment Conference on November 15 at 10 a.m. Eastern time. This address will be live-streamed and available for replay. CSX is a leading transportation company based in Jacksonville, Florida, offering rail and intermodal services across various markets. The company has played an essential role in the economic growth of the U.S. for nearly 200 years, connecting key metropolitan areas and ports.
CSX Corp. (NASDAQ: CSX) will be represented by Executive VP and CFO Sean Pelkey at the 2022 Baird Global Industrial Conference in Chicago on November 9 at 10:40 ET. The event will be accessible to the public via a live webcast, with a replay available afterward on the company’s investor relations website. CSX is a leading transportation company based in Jacksonville, providing rail, intermodal, and logistics solutions to diverse markets across the eastern U.S., crucial for national economic growth.
CSX Corp. announced strong financial results for Q3 2022, reporting an operating income of $1.58 billion, up 10% year-over-year, and net earnings of $1.11 billion or $0.52 per share, a 21% increase from the previous year. Revenue also surged 18% to $3.90 billion, driven by higher fuel surcharges and a modest increase in volumes. However, the operating ratio rose to 59.5% due to expenses related to union agreements.
CSX Corp. (NASDAQ: CSX) has declared a $0.10 per share quarterly dividend, set for payment on December 15, 2022. Shareholders of record by November 30, 2022 will be eligible for this dividend. This decision underscores the company's financial stability and commitment to returning value to shareholders.
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