Csx Corp Stock Price, News & Analysis

CSX has announced the appointment of Ann Begeman to its board of directors. Begeman brings over three decades of public service experience, primarily in transportation policy within legislative and executive branches. She served as a two-term presidential appointee on the Surface Transportation Board (STB) from 2011 to 2021, holding positions as Chairman and Acting Chairman from 2017 to 2021.

During her STB tenure, Begeman improved accountability, transparency, and efficiency. She played a important role in developing the ICC Termination Act, which established the STB. Since 2022, she has worked as a consultant on railroad regulatory and government affairs. Her previous experience includes nearly two decades in the U.S. Senate, serving as Republican Staff Director for the Senate Committee on Commerce, Science, and Transportation, and as Legislative Director for Senator John McCain.

CSX Corp reported a decline in fourth quarter 2024 performance, with operating income falling to $1.11 billion from $1.32 billion year-over-year. The quarter included a $108 million pre-tax goodwill impairment charge. Net income decreased to $733 million ($0.38 per share) from $882 million ($0.45 per share) in Q4 2023.

For full-year 2024, operating income declined 5% to $5.25 billion, with net income of $3.47 billion ($1.79 per share) compared to $3.67 billion ($1.82 per share) in 2023. Quarterly revenue decreased 4% to $3.54 billion, while full-year revenue fell 1% to $14.54 billion. Total volume increased 1% to 1.58 million units in Q4. The company faced challenges from major hurricanes and the Key Bridge outage early in the year.

CSX (NASDAQ: CSX) announced that employees represented by The Brotherhood of Maintenance of Way Employes Division (BMWED) have ratified a five-year collective bargaining agreement. The company has now secured agreements with 10 labor unions, covering 13 work groups, representing 42% of its unionized workforce.

The agreement includes improved wages, health care, and paid time off benefits, consistent with terms reached with other unions. CEO Joe Hinrichs emphasized the company's commitment to creating a positive workplace environment and improving safety, efficiency, and service. CSX continues to work towards reaching similar agreements with remaining unions.

CSX (NASDAQ: CSX) has announced its schedule for the fourth quarter financial and operating results release. The company will disclose its results after market close on January 23, 2025, followed by a conference call and live webcast at 4:30 p.m. Eastern Time. Investors can participate via teleconference using the numbers 1-888-510-2008 (U.S.) or 1-646-960-0306 (international) with passcode 3368220. Presentation materials and webcast access will be available on the company's investor website, with a replay archived afterward.

CSX has announced that Executive Vice President and CFO Sean Pelkey will speak at the 2024 UBS Global Industrials and Transportation Conference in Palm Beach. The presentation is scheduled for Wednesday, December 4, at 8:00 a.m. Eastern Time. Investors can access a live webcast of the address through the company's investor relations website, where a replay will also be available after the event.

CSX announced that Executive Vice President and Chief Legal Officer Nathan Goldman will retire on January 1, 2025, after 21 years with the company. Michael Burns, who has served CSX for 18 years, will be promoted to Senior Vice President and Chief Legal Officer effective January 2, 2025. Burns will oversee legal and regulatory affairs, corporate secretary's office, risk management, police and infrastructure protection, environmental and hazmat, and audit functions. Prior to this promotion, Burns served as vice president and general counsel, having joined CSX in 2006.

CSX Corp. announced that its Executive Vice President and Chief Commercial Officer, Kevin Boone, will address the 2024 Stephens Annual Investment Conference in Nashville on Tuesday, November 19, at 10:00 a.m. Eastern Time. The address will be broadcast live via webcast, accessible at http://investors.csx.com. A replay will be available after the event. Additional financial information can also be found on the company’s website.

CSX Corp. (NASDAQ: CSX) announced that Executive Vice President and CFO Sean Pelkey, along with Executive Vice President and COO Mike Cory, will speak at the 2024 Baird Global Industrial Conference in Chicago. The presentation is scheduled for November 13 at 8:55 a.m. Eastern Time. The event will be available via live webcast on CSX's investor relations website, with a replay option available after the presentation.

CSX announced that the 500+ acre RailPort Logistics Mobile in Mobile, Alabama, has received a Platinum CSX Select Site designation. The development-ready property will feature nine industrial buildings, with four having CSX rail service. Scannell Properties plans to invest $15 million in transportation infrastructure upgrades, with 390 acres for development and 149 acres for conservation.

The site meets rigorous criteria including infrastructure availability, environmental reviews, and strategic location less than three miles from Interstate 10. Since 2012, CSX Select Sites have attracted manufacturers with projected capital investments of $17.7 billion and nearly 14,000 new jobs. This is the fourth site in Alabama to receive this designation.