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 reports developments for a Class I rail transportation business serving markets across the eastern United States. Company updates center on rail, intermodal and rail-to-truck transload services for energy, industrial, construction, agricultural and consumer-products customers, with network connections to major metropolitan areas, short-line railroads and ocean, river and lake ports.
Recurring CSX news includes quarterly operating results, freight volume and revenue drivers across merchandise, intermodal, coal and other cargo categories, service and corridor initiatives such as the Southeast Mexico Express, industrial-development activity through the CSX Select Site program, dividends, executive presentations and governance changes.
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.
CSX Corp announced that the Rickenbacker South Industrial Rail Park in Harrison Township, Ohio has received a Platinum CSX Select Site designation. The 671-acre property, located adjacent to CSX's mainline in Columbus, features significant electric capacity potential exceeding 100 MW and quick access to major highways. The site is the third in Ohio to receive this designation since 2012. CSX Select Sites have attracted manufacturers with projected capital investments of $17.7 billion and nearly 14,000 new jobs. The program, launched in 2012, identifies development-ready properties along the CSX network that meet rigorous criteria including infrastructure availability, environmental reviews, and rail serviceability.
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.