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. (NASDAQ: CSX) will be addressing the Bernstein 38th Annual Strategic Decisions Conference on June 2nd at 2:30 PM Eastern Time. The presentation will be broadcast live via webcast at investors.csx.com, with a replay available afterwards. CSX, based in Jacksonville, Florida, offers rail and intermodal services across various markets, including energy and agriculture, playing a vital role in the U.S. economy. For further details, visit www.csx.com.
CSX Corp. (NASDAQ: CSX) will be represented by Executive Vice President of Sales & Marketing, Kevin Boone, at the 15th Annual Wolfe Research Global Transportation & Industrials Conference on May 24 at 11:30 am Eastern Time.
The presentation will be available through a live webcast and later as a replay on the company's investor relations website. CSX provides key transportation services across various markets, significantly supporting the U.S. economy for nearly 200 years.
CSX Corp. (NASDAQ: CSX) has declared a quarterly dividend of $0.10 per share on its common stock, with a payment date set for June 15, 2022. Shareholders on record as of May 31, 2022 will be eligible to receive this dividend. CSX, a leading transportation company based in Jacksonville, Florida, provides various rail and intermodal services across numerous markets, impacting major metropolitan areas in the eastern United States.
CSX Corp. (NASDAQ: CSX) will have Executive Vice President and CFO, Sean Pelkey, speaking at the 2022 Bank of America Securities 29th Annual Transportation, Airlines and Industrials Conference in Boston on May 17 at 8:00 a.m. Eastern time. The event will be webcast live, with a replay available afterward. CSX is a leading transportation company offering rail and intermodal services across various markets. Its extensive network supports economic growth and industrial development in the eastern U.S., connecting major cities and ports.
CSX Corp. reported first quarter 2022 net earnings of $859 million ($0.39 per share), up from $706 million ($0.31 per share) last year. Revenue increased by 21% year-over-year to $3.41 billion, driven by a 24% rise in revenue-per-unit, even as volume fell by 2%. Operating income rose to $1.28 billion, a 16% increase from the previous year, though the operating ratio worsened by 150 basis points to 62.4%. The company's CEO expressed confidence in future growth due to a supportive market environment.
CSX Corp. announced a tentative agreement with SMART-TD to provide monthly advance payments for wage adjustments expected from the 2020 national bargaining settlement. Payments of up to $600 will be made from May 2022 until the end of the year or until a wage settlement is reached. This decision aims to support union employees facing high inflation and prolonged wait times for pay raises. CSX is also working to extend similar agreements to all unionized employees. The ongoing negotiations began in November 2019 and are currently under mediation.
CSX Corp. (NASDAQ: CSX) announced that the Surface Transportation Board approved its acquisition of Pan Am Railways, effective June 1, 2022. This acquisition is expected to enhance service offerings to New England customers, allowing CSX to integrate Pan Am's nearly 1,200-mile rail network. The deal aims to improve operational efficiency, reduce fuel consumption, and expand CSX's reach into Connecticut, New York, Massachusetts, Vermont, New Hampshire, and Maine. Financial terms were not disclosed, but the integration is expected to bring significant benefits to shippers and stakeholders in the region.
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