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) is gaining increasing support for its proposed merger with Pan Am Railways, with over 100 supportive comments submitted to the Surface Transportation Board. Notable endorsements include U.S. Senators from Maine, Angus King and Susan Collins, highlighting the merger's potential benefits for passenger rail service and local businesses. The merger is expected to enhance rail safety, improve freight capacity, and reduce environmental impacts by shifting truck traffic to rail. Key stakeholders like the Connecticut Department of Transportation have also expressed their support.
CSX Corp. (NASDAQ: CSX) will be represented by Executive Vice President of Sales and Marketing, Kevin Boone, at the virtual 2021 Deutsche Bank Transportation Conference on August 17 at 1:00 p.m. Eastern time. The conference will be available via live webcast, and a replay will follow the event. CSX is a leading transportation company based in Jacksonville, Florida, offering rail and intermodal services across diverse markets, contributing to the U.S. economy for almost 200 years, with a network linking major areas in the eastern U.S.
CSX Corp. (NASDAQ: CSX) has reached an agreement with the Northern New England Passenger Rail Authority (NNEPRA) to support its merger with Pan Am Railways. This collaboration aims to enhance passenger and freight rail services in Maine, particularly benefiting the Amtrak Downeaster service. The merger is expected to bring significant infrastructure improvements and better connectivity across New England, with plans for upgrades to track and locomotives. The STB has accepted CSX's revised application, demonstrating a commitment to improving rail logistics in the region.
CSX Corp. (NASDAQ: CSX) announced a significant step forward in its proposed merger with New England's Pan Am Railway, gaining support from key stakeholders including Maine's Governor Janet Mills and various businesses and municipalities. The merger aims to enhance freight and passenger rail services across New England while improving infrastructure and environmental sustainability. CSX expects to invest in upgrades that will benefit local economies and rail users. The company submitted an application to the Surface Transportation Board on July 1, 2021, and awaits approval.
CSX Corporation's Board of Directors approved a quarterly dividend of $0.093 per share on July 23, 2021. This dividend is set to be paid on September 15, 2021, to shareholders on record by August 31, 2021. Following a three-for-one stock split on June 28, 2021, the dividend approximates the prior dividend of $0.28 per share. CSX is a leading transportation company in the U.S., servicing diverse markets with a vast rail network connecting major urban areas and ports.
CSX Corp. reported second quarter 2021 net earnings of $1,173 million, or $0.52 per share, a significant increase from $499 million or $0.22 per share in the prior year. Operating ratio improved to 43.4% from 63.3%. This performance included a $349 million benefit from property rights sold to Virginia for passenger rail. Revenue rose 33% to $2.99 billion, while expenses decreased by 9% to $1.30 billion. These results reflect a strong rebound in operations and commitment to customer service.
CSX Corp. has been recognized in IDG’s 2021 Insider Pro and Computerworld Best Places to Work in IT list, being the only railroad included among the top 100 work environments for IT professionals. The report highlights CSX's commitment to leveraging technology to enhance safety and customer services. CSX's strategic focus and the appreciation from employees contribute to this accolade, as noted by senior executives. This recognition reflects the company’s efforts in fostering a dynamic corporate culture that emphasizes innovation and collaboration in the technology sector.
CSX Corp. has released its 2020 ESG report, showcasing progress in sustainability across safety, environment, and social governance. The report reflects the company's commitment to sustainable practices, highlighting improvements in fuel efficiency and emissions reduction. Additionally, CSX addresses social justice, workforce diversity, and equity. Prepared in alignment with leading sustainability frameworks, the ESG report aims to enhance transparency and accountability. For more details, visit www.csx.com.
CSX Corp. (NASDAQ: CSX) is set to release its second-quarter financial and operational results after market close on July 21, 2021. The results will be followed by a conference call at 4:30 p.m. Eastern Time. Participants can join via teleconference or access the live webcast on the company's investor relations website. CSX is a leading transportation company, providing rail and intermodal services across various sectors including energy and agriculture, playing a vital role in the U.S. economy for nearly two centuries.
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