SAN DIEGO, Oct. 18, 2024 (GLOBE NEWSWIRE) -- Robbins Geller Rudman & Dowd LLP is investigating potential violations of U.S. federal securities laws involving CSX Corporation (NASDAQ: CSX) focused on whether the company and certain of its top executives made false and/or misleading statements and/or failed to disclose material information to investors. If you have information that could assist in the CSX investigation or if you are a CSX investor who suffered a loss and would like to learn more, you can prov ...

SAN DIEGO, Oct. 18, 2024 (GLOBE NEWSWIRE) -- Johnson Fistel, LLP is investigating claims on behalf of investors of CSX Corporation (NASDAQ: CSX) for potential violations of securities laws. The investigation focuses on investors’ losses and whether they may be recovered under federal securities laws. What if I acquired CSX Securities? If you acquired CSX securities and suffered losses on your investment, join our investigation now: www.johnsonfistel.com/investigations/csx-corporation. For more information, ...

JACKSONVILLE, Fla., Oct. 17, 2024 (GLOBE NEWSWIRE) -- CSX Corporation (NASDAQ: CSX) (CSX), Canadian Pacific Kansas City (TSX: CP) (NYSE: CP) (CPKC), and Genesee & Wyoming Inc. (G&W) today said the Surface Transportation Board (STB) has approved CSX’s and CPKC’s respective applications regarding their acquisition of the rail lines operated by G&W’s Meridian & Bigbee Railroad, L.L.C. (MNBR), which will result in the creation of a new direct CPKC-CSX interchange connection in Alabama. Through the now-approved ...

Core Insights - CSX's results and outlook were significantly affected by Hurricanes Helene and Milton, leading to a miss in both profit and sales estimates for the third quarter [1][2] - The company reported third-quarter earnings per share (EPS) of $0.46, with revenue increasing by 1.3% year-over-year to $3.62 billion, both falling short of analyst expectations [1] - CSX anticipates a challenging fourth quarter, predicting a revenue decline of approximately $200 million due to falling fuel prices and weaker coal markets [2] Financial Performance - Third-quarter EPS was $0.46, with revenue at $3.62 billion, reflecting a 1.3% year-over-year increase [1] - Revenue growth was constrained by a decrease in coal revenue, lower fuel surcharges, and other revenue declines [1] Outlook and Challenges - The company revised its fourth-quarter outlook, indicating that external factors will make it more challenging, with modest volume growth expected [2] - CSX expects a sequential operating margin reduction in Q4 due to the impact of the storms and declining revenue [2] - Capital expenditures (CapEx) are projected at $2.5 billion, excluding costs for rebuilding hurricane-damaged infrastructure [2]

Core Viewpoint - CSX Corporation's third-quarter 2024 earnings per share of 46 cents fell short of expectations, but year-over-year growth was observed due to increased freight volumes and revenues [1][2]. Financial Performance - Total revenues reached $3.62 billion, a 1% increase year-over-year, driven by merchandise pricing gains and growth in intermodal and merchandise volumes, although it fell short of the Zacks Consensus Estimate of $3.68 billion [2]. - Operating income increased by 7% to $1.35 billion, while total expenses rose by 2% to $2.3 billion, primarily due to a 6% increase in labor and fringe costs [2]. - Overall volumes grew by 3% year-over-year [2]. Segmental Performance - Merchandise revenues improved by 6% year-over-year to $2.23 billion, slightly below the estimate of $2.24 billion, with merchandise volumes rising by 3% [3]. - Intermodal revenues decreased by 2% year-over-year to $509 million, below the estimate of $562 million, despite a 3% increase in segmental volumes [3]. - Coal revenues fell by 7% year-over-year to $553 million, also below the estimate of $589 million, with coal volumes decreasing by 2% [3]. - Trucking revenues totaled $214 million, down 2% year-over-year, while other revenues plunged by 15% to $112 million [3]. Liquidity - CSX ended the third quarter of 2024 with cash and cash equivalents of $1.64 billion, up from $1.35 billion at the end of 2023, while long-term debt increased to $18.53 billion from $17.97 billion [4]. - The company generated $3.86 billion in cash from operating activities, with free cash flow at $2.22 billion before dividend payments [4]. Outlook - CSX anticipates a capital expenditure of $2.5 billion for the current year, excluding infrastructure rebuilds due to recent hurricanes [5]. - Management expects modest volume growth in the final quarter of 2024, with revenues likely to decrease by approximately $200 million due to lower fuel prices and softer coal markets [5].

NEW YORK, Oct. 17, 2024 (GLOBE NEWSWIRE) -- First Responders Children’s Foundation (FRCF), a national 501(c)3 organization dedicated to serving the children of U.S. first responders including firefighters, police officers, paramedics, EMTs, corrections officers, and 911 dispatchers, announced – in partnership with CSX – the names of 10 students who will receive the CSX Pride in Service Scholarship for the 2024/2025 academic year. FRCF and CSX have awarded individual scholarships to deserving children of fir ...

U.S. stock futures were mostly higher this morning, with the Nasdaq futures gaining around 100 points on Thursday.Shares of CSX Corporation CSX fell sharply in today's pre-market trading after the company reported third-quarter earnings below analyst estimates.CSX reported quarterly GAAP earnings of 46 cents per share, which missed the consensus estimate of 48 cents per share. Quarterly revenue came in at $3.62 billion, also missing the consensus estimate of $3.676 billion. The company said its total volume ...

CSX Corporation (NASDAQ:CSX) Q3 2024 Results Conference Call October 16, 2024 4:30 PM ET Company Participants Matthew Korn - Head of Investor Relations and Strategy Joe Hinrichs - President and Chief Executive Officer Mike Cory - Executive Vice President and Chief Operating Officer Kevin Boone - Executive Vice President and Chief Commercial Officer Sean Pelkey - Executive Vice President and Chief Financial Officer Conference Call Participants Brian Ossenbeck - JPMorgan Ari Rosa - Citi Jonathan Chappell - Ev ...

Wednesday, October 16th, 2024Markets were up across the board today, with the blue-chip Dow notching yet another all-time closing high. The Dow gained +337 points, +0.79%, for the session. The S&P 500, which had last posted an all-time closing high on Monday, was just short today, up +0.47% but 14 points off its Monday closing high.The tech-heavy Nasdaq, which hasn’t reached a new closing high since July of this year, was the relative laggard among top indexes: +0.28%. The small-cap Russell 2000, three full ...

For the quarter ended September 2024, CSX (CSX) reported revenue of $3.62 billion, up 1.3% over the same period last year. EPS came in at $0.46, compared to $0.42 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $3.68 billion, representing a surprise of -1.56%. The company delivered an EPS surprise of -4.17%, with the consensus EPS estimate being $0.48.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they comp ...