CSX CORP SEC 10-Q Report
CSX Corp, a leading transportation company specializing in rail-based freight transportation, has released its Form 10-Q report for the third quarter. The report provides a comprehensive overview of the company's financial and operational performance, highlighting key metrics and business activities that have shaped the quarter.
Financial Highlights
Total Revenue: $3,587 million, decreased 1% year over year due to declines in export coal revenue and merchandise volume, partially offset by increases in other revenue and intermodal volume growth.
Operating Income: $1,087 million, decreased 20% year over year, impacted by a $164 million goodwill impairment charge related to Quality Carriers.
Net Earnings: $694 million, decreased 22% year over year, reflecting lower operating income and higher expenses.
Diluted EPS: $0.37, decreased 20% year over year, primarily due to the goodwill impairment and lower net earnings.
Business Highlights
Merchandise Volume: The merchandise segment saw a mixed performance with a 1% decrease in total volume. Notable changes include a 7% decrease in chemicals due to lower shipments of crude oil and other industrial chemicals, and a 7% increase in minerals driven by higher shipments of aggregates and cement.
Intermodal Volume: Intermodal volume increased by 5% in the third quarter, driven by higher port volumes and growth with key customers, despite a continued soft trucking environment.
Coal Volume: Coal volume decreased by 3% overall, with export coal declining due to reduced production and domestic coal increasing due to higher shipments to utility plants.
Trucking Revenue: Trucking revenue decreased by 3% compared to the prior year, primarily due to lower rates and fuel surcharges.
Other Revenue: Other revenue increased by 38%, primarily due to higher carload demurrage and payments from customers that did not meet volume commitments.
Operational Efficiency: The company reported improvements in operational metrics, with train velocity increasing by 2% and dwell time improving by 8% compared to the previous year.
Safety Performance: Safety metrics showed positive trends, with a 7% improvement in the FRA personal injury frequency index and a 21% improvement in the FRA train accident rate.
Future Outlook: The company continues to focus on operational improvements and executing the operating plan to deliver safe, reliable, and efficient service to customers. The appointment of a new CEO, Stephen F. Angel, is expected to bring fresh leadership to drive these initiatives forward.
SEC Filing: CSX CORP [ CSX ] - 10-Q - Oct. 16, 2025