JACKSONVILLE, Fla. , Jan. 10, 2025 (GLOBE NEWSWIRE) -- CSX Corporation (NASDAQ:CSX) today announced that employees represented by The Brotherhood of Maintenance of Way Employes Division of the International Brotherhood of Teamsters (BMWED) have voted to ratify the five-year collective bargaining agreement. "The ratification by the BMWED marks an important advancement in our ongoing collaboration with union leadership," said Joe Hinrichs, President and CEO of CSX. "CSX remains dedicated to cultivating a work ...

JACKSONVILLE, Fla., Dec. 18, 2024 (GLOBE NEWSWIRE) -- CSX Corp. (NASDAQ: CSX) will release fourth quarter financial and operating results after the market close on Thursday, January 23, 2025. This will be followed by a conference call and live webcast hosted by the company’s management team at 4:30 p.m. Eastern Time. Those interested in participating via teleconference may dial 1-888-510-2008. Callers outside the U.S. may dial 1-646-960-0306. Participants should dial in 10 minutes prior to the call and use ...

Summary of CSX Corporation Conference Call Company Overview - **Company**: CSX Corporation (NASDAQ:CSX) - **Event**: UBS Global Industrials and Transportation Conference - **Date**: December 4, 2024 - **Participants**: Sean Pelkey (CFO), Tom Wadewitz (UBS) Key Industry Insights - **Railroad Industry**: CSX operates in the freight transportation sector, competing with other railroads and trucking companies [1][5] - **Market Trends**: There is a noted strength in certain markets, particularly in chemicals and petroleum, while coal and agricultural products have shown weakness [2][9][15] Core Points and Arguments - **Volume Growth**: CSX anticipates volume growth not seen in a sustained manner for a long time, driven by industrial development and customer partnerships [4][5][30] - **Impact of Hurricanes**: The company faced significant disruptions due to Hurricanes Helene and Milton, resulting in an estimated $50 million impact on revenue for the quarter [6][7][8] - **Current Volume Trends**: Despite challenges, CSX reported a 2% increase in volume over the last few weeks, with intermodal showing strength [9][10][24] - **Chemicals and Aggregates**: The chemicals sector has been strong, with expectations for continued growth into 2025, while aggregates have also shown recovery post-hurricane [25][26] - **Coal Market Challenges**: Coal has been a drag on performance due to production issues and plant closures, with expectations for continued headwinds [9][15][86] Financial Guidance and Projections - **2025 Guidance**: CSX expects headwinds in 2025 due to network disruptions and external market factors, including coal pricing and fuel costs [81][84][86] - **Long-term Outlook**: The company maintains a three-year guidance of high single-digit to low double-digit earnings growth, with merchandise growth expected to outpace industrial production [75][80] Operational Efficiency - **Network Resilience**: CSX has shown resilience in operations despite disruptions, maintaining customer service metrics in the 90% to 95% range [52][54] - **Headcount Management**: The company plans to keep headcount flat while managing growth through efficiency gains and improved training processes [60][62] Customer Sentiment and Market Conditions - **Positive Customer Sentiment**: There is optimism among customers regarding investment and growth, particularly following recent elections [42][43] - **Tariff Exposure**: CSX has limited exposure to potential tariffs on trade with Mexico and Canada, estimating it to be around 10% to 15% of overall revenue [47][48] Pricing Strategy - **Pricing Outlook**: CSX expects to price ahead of inflation in merchandise and intermodal segments, with ongoing contract renewals showing positive trends [98][99] - **Impact of Trucking Market**: The company anticipates a lag in pricing benefits from the trucking market, with potential positive impacts on volume and pricing as truck rates increase [100][102] Conclusion - **Overall Sentiment**: CSX remains optimistic about future growth driven by industrial development, customer partnerships, and operational efficiencies, despite facing short-term challenges from external factors and network disruptions [86][112]

JACKSONVILLE, Fla., Nov. 25, 2024 (GLOBE NEWSWIRE) -- CSX Corp. (NASDAQ: CSX) Executive Vice President and Chief Financial Officer, Sean Pelkey, will address the 2024 UBS Global Industrials and Transportation Conference in Palm Beach on Wednesday, December 4, at 8:00 a.m. Eastern Time. This address will be broadcast live via webcast at http://investors.csx.com. A replay will be available following the conclusion of this event. This announcement, as well as additional financial information, is available on t ...

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CSX Corporation (NASDAQ:CSX) Stephens 26th Annual Investment Conference Call November 19, 2024 10:00 AM ET Company Participants Kevin Boone - Chief Commercial Officer Conference Call Participants Daniel Imbro - Stephens Daniel Imbro My name is Daniel Imbro. I'm the Transport Analyst here at Stephens. Pleased this morning to be joined by CSX. From the company up here, we have Chief Commercial Officer, Kevin Boone. So, thanks for joining this morning. As a reminder, this will be a fireside chat format. So, I' ...

Core Viewpoint - CSX's third-quarter earnings report showed a mixed performance, with earnings per share missing estimates but revenues increasing year-over-year, driven by higher freight volumes and merchandise pricing gains [2][3]. Financial Performance - Earnings per share for Q3 2024 were 46 cents, falling short of the Zacks Consensus Estimate by two cents, but showing a year-over-year increase [2]. - Total revenues reached $3.62 billion, a 1% increase year-over-year, supported by merchandise pricing gains and growth in intermodal and merchandise volumes [3]. - Operating income rose 7% to $1.35 billion, while total expenses increased 2% to $2.3 billion, primarily due to a 21% rise in fuel costs [4]. Segmental Performance - Merchandise revenues improved 6% year-over-year to $2.23 billion, with merchandise volumes rising 3% [5]. - Intermodal revenues decreased 2% year-over-year to $509 million, despite a 3% increase in segmental volumes [5]. - Coal revenues fell 7% year-over-year to $553 million, with coal volumes decreasing by 2% [5]. - Trucking revenues totaled $214 million, down 2% year-over-year, while other revenues plunged 15% to $112 million [6]. Liquidity and Cash Flow - CSX ended Q3 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 [7]. - The company generated $3.86 billion in cash from operating activities, with free cash flow at $2.22 billion before dividend payments [7]. Outlook - CSX anticipates capital expenditures of approximately $2.5 billion for the current year, excluding infrastructure rebuilds from recent hurricanes [8]. - Management expects modest volume growth in Q4 2024, but revenues are projected to decline by approximately $200 million due to lower fuel prices and softer coal markets [8]. - There has been a downward trend in estimates, with the consensus estimate shifting down by 10.61% [9]. Investment Scores - CSX has an average Growth Score of C, a Momentum Score of D, and a Value Score of D, placing it in the bottom 40% for the value investment strategy [10]. - The stock has an aggregate VGM Score of D, indicating a below-average return expectation in the coming months [11].

Core Insights - CSX is well-positioned to adapt to changes in tariffs and manufacturing, as long as the economy continues to grow [1][2] - The company operates primarily on the East Coast and provides rail and intermodal freight transport services, facilitating the movement of goods from various port cities [1] - An increase in domestic manufacturing, potentially driven by the Trump administration's tariff policies, could benefit CSX significantly [3] Company Operations - CSX's operations include transporting materials from West Coast ports to the East Coast, particularly from cities like Chicago and Memphis [2] - The company has a strong presence in the Southeast, where many corporations are looking to build large projects [3] - CSX currently manages 500 industrial development projects within its network and has an additional 1,000 potential sites in its inventory [3] Market Outlook - Changes in trade patterns due to increased tariffs could lead to new opportunities for CSX, as the company can adapt its services to meet evolving demands [2] - The company's ability to transport goods efficiently across its extensive network positions it favorably in a changing economic landscape [1][2]

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CSX Corporation (NASDAQ:CSX) Baird 2024 Global Industrials Conference November 13, 2024 8:55 AM ET Company Participants Michael Cory - Executive Vice President and Chief Operating Officer Sean Pelkey - Executive Vice President and Chief Financial Officer Conference Call Participants Garrett Holland - Baird Garrett Holland All right. Good morning, everyone. My name is Garrett Holland, Senior Analyst covering Transportation and Logistics here at Baird. We appreciate you being here at the conference. It's gr ...