Kyle Ortiz/iStock Editorial via Getty ImagesBusiness Overview & History Railroads were first built in the 19th century, peaking in the early 20th century. Facing immense competition from automobiles, airlines, and a panoply of government regulation, over the 20th century, there was a long process of industry consolidation via mergers and acquisitions that shaved down 1,200 small rail carriers to just 6 giant freight rail companies today. CSX Corporation (NASDAQ:CSX) is one of the giants that is the outc ...

CSX Corp (NASDAQ:CSX) stock is up 4% at $34.31 at last glance, after the company's second-quarter results. The transportation name announced earnings of 49 cents per share, beating analyst estimates of 48 cents, while revenue of $3.70 billion came in line with estimates. The Royal Bank of Canada reaffirmed its "sector perform" rating after the event. CSX has traded choppily since mid-June, with a firm floor at the $32 level that caught multiple pullbacks. Today's bounce could've already been in the cards, p ...

CSX Corporation's (CSX) second-quarter 2024 earnings per share of 49 cents beat the Zacks Consensus Estimate by a penny. However, the bottom line remained flat on a year-over-year basis.Total revenues of $3.7 billion marginally topped the Zacks Consensus Estimate. The top line was flat year over year. The positive effects of merchandise pricing gains and growth in intermodal and merchandise volumes were offset by declines in export coal prices, other revenues and fuel surcharge.The second-quarter operating ...

traveler1116 Introduction It's time to talk about what has become one of my favorite dividend (growth) stocks recently. A company that has returned more than 290% over the past ten years, beating the tech-heavy S&P 500 (SP500) by a substantial margin despite cyclical headwinds since 2022 and a steep sell-off in 2015 due to similar macroeconomic headwinds. Data by YCharts As the chart above gives away, that company is the CSX Corporation (NASDAQ:CSX), the second-largest Class I railroad in the United Sta ...

Revenue and Income - Revenue for Q2 2024 was flat at $3.701 billion compared to Q2 2023, with a slight increase of $2 million[136] - Operating income decreased by $18 million, or 1%, to $1.448 billion, resulting in an operating margin of 39.1%, down 50 basis points year over year[136] - CSX's operating income for the first six months of 2024 was $2,785 million, a decrease of 4.4% compared to $2,913 million in 2023[160] - Gross Cash Earnings (GCE) for the same period was $3,113 million, down from $3,199 million, reflecting a decrease of 2.7%[160] - Economic Profit (non-GAAP) decreased to $1,268 million in 2024 from $1,435 million in 2023, indicating a decline of 11.7%[160] - Free Cash Flow (FCF) before dividends was $1,150 million, a decrease of 24.7% from $1,528 million in the prior year[165] Expenses and Costs - Total expenses increased by $20 million, or 1%, to $2.253 billion, driven by higher labor costs and inflation[149] - Interest expense rose by $8 million due to higher average debt balances[151] - Income tax expense decreased by $8 million, benefiting from favorable state legislative changes[151] Volume and Revenue Segments - Intermodal volume increased by 5% year over year, while total volume rose by 2% to 1,578 thousand units[140] - Chemicals revenue increased by 9% to $722 million, driven by higher shipments of plastics and petroleum products[140] - Coal volume decreased by 3%, with export coal shipments increasing despite challenges from the Francis Scott Key Bridge collapse[145] - Trucking revenue decreased by $6 million due to lower fuel and capacity surcharges[146] - Other revenue declined by $32 million, attributed to lower carload demurrage and reduced intermodal storage[147] Cash Flow and Investments - Cash from operating activities fell by $300 million, primarily due to $387 million in federal tax payments related to the 2023 tax year[176] - The company generated $103 million more cash for investing activities due to higher property additions, consistent with planned capital expenditures[176] - Planned capital investments for 2024 are expected to be approximately $2.5 billion, focusing on core infrastructure, safety, reliability, and productivity initiatives[181] Assets and Liabilities - Total assets increased by $150 million from year-end, primarily due to a $228 million increase in net property and a $58 million increase in investments in affiliates[184] - Total liabilities decreased by $485 million from year-end, mainly due to a $387 million payment of previously postponed federal taxes[184] - CSX reported a working capital surplus of $441 million as of June 30, 2024, an increase of $305 million from $136 million at year-end 2023[185] Capital Structure and Shareholder Returns - CSX had $1.2 billion in cash, cash equivalents, and short-term investments, with plans to use these funds for capital expenditures, working capital, and shareholder returns[178] - The company has a $1.2 billion unsecured revolving credit facility, with no outstanding balances as of June 30, 2024[180] - CSX did not issue any long-term debt during the six months ended June 30, 2024, maintaining flexibility in its capital structure[179] - Share repurchases totaled $810 million, and dividends paid amounted to $468 million, contributing to a total shareholders' equity increase of $635 million[184] Employee and Safety Metrics - Approximately 17,600 of CSX's 23,300 employees are members of a rail labor union, with agreements in place until December 31, 2024[187] - The FRA Personal Injury Frequency Index increased to 1.25 from 0.91, indicating a deterioration in safety performance[170] - On-Time Originations decreased to 74% from 78%, and On-Time Arrivals dropped to 64% from 71% year-over-year[170] - Train velocity improved by 3% to 18.2 miles per hour, while dwell time increased by 10% to 10.2 hours compared to the prior year[167] Financial Strategy - The company is committed to maintaining an investment-grade credit profile while returning cash to shareholders through dividends and share repurchases[186] - CSX's capital charge for the period was $1,845 million, reflecting an 8% required return on gross operating assets[160]

Exhibit 99.2 (SSX 7021 .7021 QUARTERLY FINANCIAL REPORT Second Quarter 2024 CSX Corp. Announces Second Quarter 2024 Results JACKSONVILLE, Fla. – August 5, 2024 – CSX Corp. (NASDAQ: CSX) today announced second quarter 2024 operating income of $1.45 billion compared to $1.47 billion in the prior year period. Net earnings were $963 million, or $0.49 per diluted share, compared to $984 million, or $0.49 per diluted share, in the same period last year. Total volume of 1.58 million units for the quarter was 2% hi ...

Governor Larry Hogan arrives by CSX train at Seagirt Marine Terminal. He took a railroad tour of the ... [+] Howard Street tunnel along with CSX executives and gave a press conference at the Port about the need for tunnel remodeling so that double-decker containers can be transported through it. (Barbara Haddock Taylor/The Baltimore Sun/Tribune News Service via Getty Images)TNSCSX Stock (NYSE: CSX) will report its Q2 2024 results on Monday, August 5. We expect the company’s revenues to come in at $3.7 billi ...

Analysts on Wall Street project that CSX (CSX) will announce quarterly earnings of $0.48 per share in its forthcoming report, representing a decline of 2% year over year. Revenues are projected to reach $3.7 billion, indicating no change compared to the same quarter last year.Over the last 30 days, there has been a downward revision of 0.7% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts ...

CSX (CSX) is scheduled to report its second-quarter 2024 results on Aug 5 after market close.CSX has an impressive earnings surprise history, having surpassed the Zacks Consensus Estimate in two of the preceding four quarters and meeting twice, the average beat being 1.12%.The Zacks Consensus Estimate for CSX’s soon-to-be-reported quarter’s earnings has remained flat in the past 60 days at 48 cents per share. Meanwhile,the Zacks Consensus Estimate for revenues is pegged at $3.7 billion, which indicates a ma ...

JACKSONVILLE, Fla., July 30, 2024 (GLOBE NEWSWIRE) -- CSX Corp. (NASDAQ: CSX) today announced the release of its 2023 Environmental, Social and Governance (ESG) report, highlighting the company’s advancements in addressing key ESG issues through alternative fuel projects, investments in safety innovations, and enhancements to the employee work environment. “2023 was a year of tremendous progress for the ONE CSX team across all ESG priorities,” said CSX President and Chief Executive Officer Joe Hinrichs. “By ...