Welcome to our dedicated page for Csx news (Ticker: CSX), a resource for investors and traders seeking the latest updates and insights on Csx 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. reported Q3 2020 net earnings of $736 million, or $0.96 per share, down from $856 million, or $1.08 per share, year-over-year. Revenue declined 11% to $2.65 billion, impacted by decreased coal and merchandise volumes despite growth in intermodal volumes. Operating income also fell 11% to $1.14 billion, with an operating ratio of 56.9%, consistent with last year's results. The Board authorized a new $5 billion share repurchase program, reinforcing its commitment to returning capital to shareholders.
CSX Corp. has announced the promotion of Arthur Adams to senior vice president of Sales, effective immediately. Mark Wallace, executive vice president of Sales and Marketing, highlighted Adams' leadership and strategic vision as crucial for enhancing customer engagement and delivering value-added solutions. Adams, who joined CSX in 2007, will oversee various sales portfolios, including Agriculture, Chemicals, and Metals. His extensive experience in strengthening customer relationships is expected to benefit CSX's growth strategy.
The Board of Directors of CSX Corp. (NASDAQ: CSX) has approved a quarterly dividend of $0.26 per share on its common stock. This dividend will be payable on December 15, 2020, to shareholders recorded by the close of business on November 30, 2020. CSX, based in Jacksonville, Florida, plays a vital role in the transportation industry, providing various rail and intermodal services across the eastern United States, impacting a broad range of markets.
CSX Corp. (NASDAQ: CSX) has appointed Lt. General (Ret.) Thomas Bostick to its board of directors, effective immediately. Bostick, who has 38 years of military experience as the Chief of Engineers for the U.S. Army, is expected to bring valuable insights for the company's growth. His previous roles include Chief Operating Officer at Intrexon and President of Intrexon Bioengineering. His educational background includes degrees from the U.S. Military Academy at West Point, Stanford University, and The George Washington University.
CSX Corp. (NASDAQ: CSX) will announce its third-quarter financial results on October 21, 2020, after market close. Management will host a conference call and webcast at 4:30 p.m. ET. Interested participants can join via teleconference by calling 1-866-324-3683 (1-509-844-0959 for international callers) using passcode 6621759. Presentation materials will be accessible on CSX's investor website. The company provides essential rail and intermodal services across critical U.S. markets, playing a key role in economic development.
CSX Corp. (NASDAQ: CSX) is participating in the fourth annual Rail Safety Week from September 21-27, 2020, in collaboration with Operation Lifesaver, Inc. (OLI). This initiative aims to enhance public safety near railroad tracks through virtual educational campaigns to mitigate the dangers of unsafe behaviors. CSX's chief of police, Sean Douris, emphasized the company's commitment to achieving zero accidents. Rail Safety Week will focus on various safety themes, promoting awareness about crossing safety and trespass prevention. The effort aims to reduce the over 2,100 annual train-related injuries or fatalities in North America.
CSX Corp. (NASDAQ: CSX) Chief Financial Officer Kevin Boone will present at the Morgan Stanley 8th Annual Laguna Conference on September 15 at 9:00 a.m. Eastern time. The presentation will be accessible via live webcast at http://investors.csx.com, with a replay available afterward. CSX is a leading transportation company providing extensive rail and intermodal services, significantly contributing to economic growth in the Eastern U.S. The firm connects major cities and ports, supporting diverse markets.
CSX Corp. (NASDAQ: CSX) will have its Executive VP of Sales & Marketing, Mark Wallace, speak at Cowen’s 13th Annual Global Transportation Conference on September 9 at 8:00 a.m. Eastern time. The event will be streamed live via webcast, and a replay will be accessible afterward. CSX is a leading transportation company, offering extensive rail and intermodal services across the eastern U.S. and has been vital to the nation's economic growth for nearly 200 years.
CSX published its 2019 ESG report, showcasing its commitment to sustainability in safety, environmental care, and governance. The report highlights record safety performance and early achievement of 2020 emissions reduction targets. Notably, CSX became the first U.S. Class 1 railroad to reach fuel efficiency of under one gallon per thousand gross ton miles. President James M. Foote emphasized the company’s transformation and its goal to be North America’s best-run railroad. The report sets the foundation for future sustainable growth.
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