CSX Corp. Announces First Quarter 2025 Results
CSX Corp. (NASDAQ: CSX) reported declining financial results for Q1 2025, with operating income falling to $1.04 billion from $1.34 billion year-over-year. Net income decreased to $646 million ($0.34 per diluted share) from $880 million ($0.45 per diluted share) in Q1 2024.
Total volume declined 1% to 1.52 million units, while revenue dropped 7% to $3.42 billion. The revenue decrease was attributed to lower coal revenue, reduced fuel surcharge, and decreased merchandise volume, partially offset by higher merchandise pricing and intermodal volume growth.
CEO Joe Hinrichs acknowledged operational challenges and network constraints from two major infrastructure projects, stating the company is implementing targeted actions to improve performance amid uncertain market conditions.
CSX Corp. (NASDAQ: CSX) ha riportato risultati finanziari in calo nel primo trimestre 2025, con un reddito operativo sceso a 1,04 miliardi di dollari rispetto a 1,34 miliardi di dollari dell'anno precedente. L'utile netto è diminuito a 646 milioni di dollari (0,34 dollari per azione diluita) da 880 milioni di dollari (0,45 dollari per azione diluita) nel primo trimestre 2024.
Il volume totale è calato dell'1% a 1,52 milioni di unità, mentre i ricavi sono diminuiti del 7% a 3,42 miliardi di dollari. La riduzione dei ricavi è stata attribuita a un calo delle entrate dal carbone, alla diminuzione del supplemento carburante e alla riduzione del volume delle merci, parzialmente compensata da un aumento dei prezzi delle merci e dalla crescita del volume intermodale.
Il CEO Joe Hinrichs ha riconosciuto le sfide operative e le limitazioni della rete dovute a due grandi progetti infrastrutturali, affermando che l'azienda sta attuando azioni mirate per migliorare le prestazioni in un contesto di mercato incerto.
CSX Corp. (NASDAQ: CSX) reportó resultados financieros a la baja en el primer trimestre de 2025, con un ingreso operativo que cayó a 1.04 mil millones de dólares desde 1.34 mil millones año tras año. El ingreso neto disminuyó a 646 millones de dólares (0.34 dólares por acción diluida) desde 880 millones (0.45 dólares por acción diluida) en el primer trimestre de 2024.
El volumen total descendió un 1% hasta 1.52 millones de unidades, mientras que los ingresos bajaron un 7% a 3.42 mil millones de dólares. La caída en los ingresos se atribuyó a menores ingresos por carbón, reducción del recargo por combustible y disminución en el volumen de mercancías, parcialmente compensado por un aumento en los precios de la mercancía y el crecimiento del volumen intermodal.
El CEO Joe Hinrichs reconoció los desafíos operativos y las limitaciones en la red debido a dos grandes proyectos de infraestructura, afirmando que la empresa está implementando acciones específicas para mejorar el rendimiento en medio de condiciones de mercado inciertas.
CSX Corp. (NASDAQ: CSX)는 2025년 1분기 재무 실적이 하락했다고 보고했으며, 영업이익은 전년 동기 대비 10억 4천만 달러에서 13억 4천만 달러로 감소했습니다. 순이익은 2024년 1분기 8억 8천만 달러(희석 주당 0.45달러)에서 6억 4천 6백만 달러(희석 주당 0.34달러)로 줄었습니다.
총 물동량은 1% 감소하여 152만 단위가 되었고, 매출은 7% 감소하여 34억 2천만 달러를 기록했습니다. 매출 감소는 석탄 매출 감소, 연료 할증료 축소, 상품 물동량 감소에 기인했으나, 상품 가격 상승과 인터모달 물동량 증가로 일부 상쇄되었습니다.
CEO 조 힌릭스는 두 개의 주요 인프라 프로젝트로 인한 운영상의 어려움과 네트워크 제약을 인정하며, 불확실한 시장 상황 속에서 성과 개선을 위한 목표 지향적 조치를 시행하고 있다고 밝혔습니다.
CSX Corp. (NASDAQ : CSX) a annoncé des résultats financiers en baisse pour le premier trimestre 2025, avec un résultat d'exploitation tombant à 1,04 milliard de dollars contre 1,34 milliard l'année précédente. Le bénéfice net a diminué à 646 millions de dollars (0,34 dollar par action diluée) contre 880 millions (0,45 dollar par action diluée) au premier trimestre 2024.
Le volume total a diminué de 1 % pour atteindre 1,52 million d'unités, tandis que le chiffre d'affaires a chuté de 7 % à 3,42 milliards de dollars. Cette baisse des revenus est attribuée à une diminution des recettes charbon, à une réduction de la surcharge carburant et à un volume de marchandises en baisse, partiellement compensée par une hausse des prix des marchandises et une croissance du volume intermodal.
Le PDG Joe Hinrichs a reconnu les défis opérationnels et les contraintes du réseau liés à deux grands projets d'infrastructure, déclarant que l'entreprise met en œuvre des actions ciblées pour améliorer ses performances dans un contexte de marché incertain.
CSX Corp. (NASDAQ: CSX) meldete rückläufige Finanzergebnisse für das erste Quartal 2025, wobei das operative Ergebnis von 1,34 Milliarden auf 1,04 Milliarden US-Dollar sank. Der Nettogewinn verringerte sich von 880 Millionen US-Dollar (0,45 US-Dollar je verwässerter Aktie) auf 646 Millionen US-Dollar (0,34 US-Dollar je verwässerter Aktie) im Vergleich zum ersten Quartal 2024.
Das Gesamtvolumen ging um 1 % auf 1,52 Millionen Einheiten zurück, während der Umsatz um 7 % auf 3,42 Milliarden US-Dollar fiel. Der Umsatzrückgang wurde auf geringere Kohleinnahmen, reduzierte Treibstoffzuschläge und ein geringeres Warenvolumen zurückgeführt, die teilweise durch höhere Warenpreise und ein Wachstum im Intermodalverkehr ausgeglichen wurden.
CEO Joe Hinrichs erkannte betriebliche Herausforderungen und Netzwerkeinschränkungen durch zwei große Infrastrukturprojekte an und erklärte, dass das Unternehmen gezielte Maßnahmen zur Leistungsverbesserung in einem unsicheren Marktumfeld ergreift.
- Intermodal volume showed growth
- Higher merchandise pricing implemented
- Infrastructure projects underway to improve network capacity
- Operating income declined 22.4% to $1.04 billion
- Net income dropped 26.6% to $646 million
- Revenue decreased 7% to $3.42 billion
- Total volume declined 1%
- Coal revenue and fuel surcharge declined
- Operational challenges and network constraints affecting performance
Insights
CSX's Q1 results show significant deterioration with operating income down 22%, EPS down 24%, and management acknowledging underperformance amid operational challenges.
CSX's Q1 2025 results reveal a substantial deterioration in financial performance across all key metrics. Operating income dropped
Revenue contraction of
The results demonstrate a concerning triple weakness pattern: decreasing coal revenue, reduced fuel surcharge income, and lower merchandise volumes. The modest bright spots – higher merchandise pricing and intermodal volume growth – proved insufficient to counterbalance these negatives.
Most telling is management's candid admission that these results "did not meet our expectations." The attribution to "operational challenges" and "network constraints" from infrastructure projects suggests execution issues rather than merely external market factors. While these infrastructure investments may eventually yield operational improvements, the lack of specificity regarding project timelines creates uncertainty about recovery expectations.
The "uncertain market outlook" acknowledged by CEO Hinrichs compounds the recovery timeline ambiguity. For a railroad with substantial fixed costs, volume declines have significant margin implications, as evidenced by the disproportionate drop in operating income compared to revenue.
JACKSONVILLE, Fla., April 16, 2025 (GLOBE NEWSWIRE) -- CSX Corp. (NASDAQ: CSX) today announced first quarter 2025 operating income of
Total volume of 1.52 million units for the quarter was
“CSX faced operational challenges to start the year, which contributed to first quarter results that did not meet our expectations,” said Joe Hinrichs, president and chief executive officer. “In response, our talented and dedicated team of railroaders are working together to lift our performance and drive success through an uncertain market outlook. We are taking targeted actions to address the network constraints posed by two major ongoing infrastructure projects, and we remain committed to safely and reliably serving our customers.”
CSX executives will conduct a conference call with the investment community this afternoon, April 16, at 4:30 p.m. Eastern Time. Investors, media and the public may listen to the conference call by dialing 1-888-510-2008. For callers outside the U.S., dial 1-646-960-0306. Participants should dial in 10 minutes prior to the call and enter in 3368220 as the passcode.
In conjunction with the call, a live webcast will be accessible and presentation materials will be posted on the company's website at http://investors.csx.com. Following the earnings call, a webcast replay of the presentation will be archived on the company website.
This earnings announcement, as well as additional detailed financial information, is contained in the CSX Quarterly Financial Report available through the company’s website at http://investors.csx.com and on Form 8-K with the Securities and Exchange Commission.
1Year-over-year comparisons for operating income and earnings per share utilize revised financial results for past periods, as described in the annual report filed on Form 10-K.
About CSX and its Disclosures
CSX, based in Jacksonville, Florida, is a premier transportation company. It provides rail, intermodal and rail-to-truck transload services and solutions to customers across a broad array of markets, including energy, industrial, construction, agricultural, and consumer products. For nearly 200 years, CSX has played a critical role in the nation's economic expansion and industrial development. Its network connects every major metropolitan area in the eastern United States, where nearly two-thirds of the nation's population resides. It also links more than 240 short-line railroads and more than 70 ocean, river and lake ports with major population centers and farming towns alike.
This announcement, as well as additional financial information, is available on the company's website at http://investors.csx.com. CSX also uses social media channels to communicate information about the company. Although social media channels are not intended to be the primary method of disclosure for material information, it is possible that certain information CSX posts on social media could be deemed to be material. Therefore, we encourage investors, the media, and others interested in the company to review the information we post on X, formerly known as Twitter, (http://twitter.com/CSX) and on Facebook (http://www.facebook.com/OfficialCSX). The social media channels used by CSX may be updated from time to time. More information about CSX Corporation and its subsidiaries is available at www.csx.com.
Non-GAAP Disclosure
CSX reports its financial results in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP). CSX also uses certain non-GAAP measures that fall within the meaning of Securities and Exchange Commission Regulation G and Regulation S-K Item 10(e), which may provide users of the financial information with additional meaningful comparison to prior reported results. Non-GAAP measures do not have standardized definitions and are not defined by U.S. GAAP. Therefore, CSX’s non-GAAP measures are unlikely to be comparable to similar measures presented by other companies. The presentation of these non-GAAP measures should not be considered in isolation from, as a substitute for, or as superior to the financial information presented in accordance with GAAP.
Forward-looking Statements
This information and other statements by the company may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act with respect to, among other items: projections and estimates of earnings, revenues, margins, volumes, rates, cost-savings, expenses, taxes, liquidity, capital expenditures, dividends, share repurchases or other financial items, statements of management's plans, strategies and objectives for future operations, and management's expectations as to future performance and operations and the time by which objectives will be achieved, statements concerning proposed new services, and statements regarding future economic, industry or market conditions or performance. Forward-looking statements are typically identified by words or phrases such as “will,” “should,” “believe,” “expect,” “anticipate,” “project,” “estimate,” “preliminary” and similar expressions. Forward-looking statements speak only as of the date they are made, and the company undertakes no obligation to update or revise any forward-looking statement. If the company updates any forward-looking statement, no inference should be drawn that the company will make additional updates with respect to that statement or any other forward-looking statements.
Forward-looking statements are subject to a number of risks and uncertainties, and actual performance or results could differ materially from that anticipated by any forward-looking statements. Factors that may cause actual results to differ materially from those contemplated by any forward-looking statements include, among others: (i) the company's success in implementing its financial and operational initiatives; (ii) changes in domestic or international economic, political or business conditions, including those affecting the transportation industry (such as the impact of industry competition, conditions, performance and consolidation); (iii) legislative or regulatory changes; (iv) the inherent business risks associated with safety and security; (v) the outcome of claims and litigation involving or affecting the company; (vi) natural events such as severe weather conditions or pandemic health crises; and (vii) the inherent uncertainty associated with projecting economic and business conditions.
Other important assumptions and factors that could cause actual results to differ materially from those in the forward-looking statements are specified in the company's SEC reports, accessible on the SEC's website at www.sec.gov and the company's website at www.csx.com.
Contact:
Matthew Korn, CFA, Investor Relations
904-366-4515
Bryan Tucker, Corporate Communications
855-955-6397
FAQ
What caused CSX's earnings decline in Q1 2025?
How much did CSX's Q1 2025 earnings per share drop compared to Q1 2024?
What is CSX doing to address its operational challenges in 2025?
How did CSX's intermodal performance impact Q1 2025 results?
