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.
Duos Technologies Group (NASDAQ:DUOT) announced a new contract with CSX Corporation (NASDAQ:CSX) for an additional Railcar Inspection Portal, marking the third installation in their ongoing partnership. This contract includes annual service and maintenance, along with the implementation of Duos' truevue360 platform and Expert Artificial Intelligence technology. Installation is expected to be completed by Q2 2022, showcasing a trend in the railroad industry towards automated inspections.
CSX has been recognized for the ninth consecutive year by CDP, earning a spot on the "A List" for environmental leadership. As the top U.S.-based Class I railroad, CSX is one of only two North American railroads to receive this accolade, placing it in the top 5% of global respondents. The evaluation by CDP focuses on efforts to reduce emissions and address climate risks. CSX highlights its fuel efficiency compared to trucks and its commitment to innovative solutions for lowering emissions.
CSX Corporation (NASDAQ: CSX) announced the passing of Mark K. Wallace, executive vice president, after a battle with cancer. James M. Foote, CEO, expressed condolences, highlighting Wallace's passion and dedication. Joining CSX in 2017, Wallace was integral to the company’s transformation towards enhanced safety, customer service, and shareholder value. He served as executive vice president of sales and marketing, advancing CSX’s role as a supply chain partner.
Wallace's industry experience spanned 25 years, including roles at Canadian National Railway and Canadian Pacific Railway.
CSX Corp. (NASDAQ: CSX) will be featured at the 2021 Stephens Annual Investment Conference in Nashville on December 1, 2021, at 4:00 PM ET. The company's Executive Vice President of Sales & Marketing, Kevin Boone, will deliver the address. This event will be webcast live, and a replay will be available afterward. CSX is a key player in the transportation sector, offering rail, intermodal, and transload services across various markets. For more details, visit CSX's investor relations website.
CSX Corp. (NASDAQ: CSX) will participate in the Baird 51st Annual Global Industrial Conference on November 11 at 10:50 am ET, where CEO James M. Foote will deliver remarks. The event will be available via live webcast, and a replay will be accessible afterward. CSX, based in Jacksonville, Florida, is a leading transportation company offering rail and intermodal services, contributing significantly to U.S. economic expansion and connecting major metropolitan areas with critical markets.
CSX Corp. reported a robust third quarter for 2021, achieving net earnings of $968 million ($0.43 per share) compared to $736 million ($0.32 per share) in 2020. This performance was fueled by a 24% increase in revenue to $3.29 billion, attributed to growth across all business lines and the inclusion of Quality Carriers. The operating ratio improved to 56.4% from 56.9%, indicating enhanced efficiency. Operating income also rose by 26% to $1.44 billion.
The Board of Directors of CSX Corporation has approved a quarterly dividend of $0.093 per share on its common stock. This dividend is payable on December 15, 2021, to shareholders of record by November 30, 2021. This approval follows a three-for-one stock split that occurred on June 28, 2021, which adjusted the previous dividend amount of $0.28 per share. CSX, based in Jacksonville, Florida, is a leading transportation company providing rail and intermodal services across various markets.
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