Csx Corp Stock Price, News & Analysis

CSX (NASDAQ: CSX) has announced new five-year tentative collective bargaining agreements with the International Brotherhood of Electrical Workers (IBEW) and National Conference of Firemen & Oilers (NCFO). Additionally, CSX has ratified a labor agreement with the SMART-TD yardmasters.

These agreements, pending ratification by union members, were reached before the current agreements became amendable under the federal Railway Labor Act. CSX has now secured proactive agreements with 13 labor unions, covering 17 work groups, representing nearly 60 percent of its unionized workforce.

The agreements offer improved wages, health care, and paid time off benefits. CSX aims to continue partnering with other unions to reach similar agreements, focusing on enhancing workplace conditions and employee satisfaction.

The Surface Transportation Board (STB) has approved CSX (NASDAQ: CSX) and Canadian Pacific Kansas City (TSX: CP) (NYSE: CP) applications to acquire rail lines operated by Genesee & Wyoming Inc.'s Meridian & Bigbee Railroad (MNBR). This approval creates a new direct CPKC-CSX interchange connection in Alabama, linking Mexico, Texas, and the U.S. Southeast.

Key points:

• CPKC will acquire and operate the 52-mile segment between Meridian, Miss., and Myrtlewood, Ala.
• CSX will operate MNBR lines east of Myrtlewood
• A direct Class I-to-Class I interchange will be established near Myrtlewood
• MNBR will continue local service between Meridian and Myrtlewood

The transaction aims to create a new Class I corridor, enhancing service efficiency and introducing competitive shipping options. The STB approval is effective Nov. 16, 2024.

The Surface Transportation Board (STB) has approved a transaction involving Canadian Pacific Kansas City (CPKC), CSX , and Genesee & Wyoming Inc. (G&W) to create a new direct CPKC-CSX interchange connection in Alabama. This approval, effective November 16, 2024, allows CPKC to acquire and operate a 52-mile segment between Meridian, Miss., and Myrtlewood, Ala., while CSX will operate lines east of Myrtlewood.

The transaction will establish a direct Class I-to-Class I interchange near Myrtlewood, connecting shippers in Mexico, Texas, and the Southeast U.S. This new east-west Class I route aims to create competition, reduce truck traffic, and expand rail transportation markets across the southern U.S., from Dallas to Atlanta and beyond. The Meridian & Bigbee Railroad (MNBR) will continue to provide local service between Meridian and Myrtlewood.

CSX Corp. (NASDAQ: CSX) reported strong third quarter 2024 results, with operating income rising to $1.35 billion, up 7% from the previous year. Net earnings increased to $894 million, or $0.46 per diluted share, compared to $828 million, or $0.41 per share, in Q3 2023. Total volume grew by 3% to 1.59 million units. Revenue reached $3.62 billion, a 1% year-over-year increase, driven by growth in merchandise and intermodal volume, and merchandise pricing gains. These gains were partially offset by declines in coal revenue and fuel surcharges. The company's operating margin improved to 37.4%, an increase of 180 basis points from the previous year.

CSX Corp. (NASDAQ: CSX) has announced plans to webcast its 2024 Investor Day on Thursday, November 7, 2024. The event will feature presentations from CSX's leadership team, highlighting how the company is utilizing ONE CSX to implement their proven model and build momentum for profitable growth.

The webcast is scheduled to begin at 8 a.m. ET and will conclude around 11:30 a.m. ET. Interested parties can register for the event through a provided link. Additional information about the Investor Day will be available on the company's investor relations website. Following the live presentation, a replay of the webcast will be archived on CSX's website for future reference.

CSX (NASDAQ: CSX) has announced a quarterly dividend of $0.12 per share on its common stock. The dividend was approved by the company's Board of Directors and will be payable on December 13, 2024. Shareholders of record at the close of business on November 29, 2024, will be eligible to receive the dividend. This announcement demonstrates CSX's commitment to returning value to its shareholders through regular dividend payments.

CSX (NASDAQ: CSX) has announced the date for its third quarter earnings release and earnings call. The company will release its financial and operating results on Wednesday, October 16, 2024, after the market close. This will be followed by a conference call and live webcast at 4:30 p.m. Eastern Time.

Interested participants can join via teleconference by dialing 1-888-510-2008 (U.S.) or 1-646-960-0306 (outside U.S.), using the passcode 3368220. Presentation materials and webcast access will be available on the company's investor relations website. A webcast replay will be archived on the site following the earnings call.

CSX Corp. (NASDAQ: CSX) is partnering with Operation Lifesaver, Inc. (OLI) to observe See Tracks? Think Train!® Week from Sept. 23-29, 2024. This national public-safety campaign aims to educate people about rail safety and prevent accidents around trains and tracks. CSX emphasizes that safety is core to their culture and essential for efficient train operations.

In 2023, over 2,100 people in the U.S. were injured or killed in railroad crossing collisions or trespass incidents. CSX's goal is zero accidents, and they're committed to working with Operation Lifesaver to inform employees, families, and communities about railroad safety. During the week, CSX's Incident Reduction Team will conduct education and enforcement activities across their network to reduce rail-related incidents.

CSX Corp. (NASDAQ: CSX) has announced that its President and CEO, Joe Hinrichs, will be addressing the 12th Annual Morgan Stanley Laguna Conference in California on Thursday, September 12, at 9:20 a.m. Pacific time. The address will be broadcast live via webcast on the company's investor relations website, with a replay available after the event. This announcement, along with additional financial information, can be accessed on CSX's investor relations website.