CSX Corporation

Technology played key role for CSX in 2019

A photograph of a CSX train. There is a line of trees behind the train and alongside the train track.

How CSX (NASDAQ: CSX) integrates technology throughout the company operations is a key metric for how the railroad views its activities over the past year and into present and future years, according to its 2019 environmental, social and governance report.

“Smart use of data and technology is a key pillar of the transformation” between CSX’s 2019 operations and operations of past years, CSX said in its report. “Upgraded and expanded use of data and technology across our business have helped us...

https://s29755.pcdn.co/news/technology-played-key-role-for-csx-in-2019

CSX views 2H with guarded optimism

A photograph of a CSX train locomotive.

CSX (NASDAQ: CSX) is “cautiously optimistic” about volumes in the second half of 2020, noting that while volumes have rebounded significantly in recent weeks, the coronavirus, the election and overall economic uncertainty remain potential headwinds.

“There remains a lot of uncertainty around the pace of the recovery and the continuing impact of COVID-19 on states and businesses,” said Mark Wallace, CSX’s executive vice president for sales and marketing, during CSX’s second-quarter earnings call...

https://s29755.pcdn.co/news/csx-views-2h-with-guarded-optimism

CSX’s second-quarter net income falls 43%

A photograph of CSX's logo on a large outdoor screen in the middle of a city intersection.

Second-quarter net profits for CSX (NASDAQ: CSX) slipped 43% amid a pandemic-induced 26% drop in revenue.

Net income totaled $499 million, or $0.65 per diluted share, in the second quarter of 2020 compared with $870 million, or $1.08 per diluted share, in the second quarter of 2019.

(CSX)

Second-quarter revenue fell 26% to $2.26 billion amid lower economic activity driven by the COVID-19 pandemic, CSX said. Volumes fell 20% to 1.26 million units, while revenue per unit slipped 7% to $1,794.

(CSX)

https://www.freightwaves.com/news/csxs-second-quarter-net-income-falls-43

June rail traffic sees recovery ‘accelerate’

Covered hoppers passing through rail crossing

U.S. railroads’ total rail traffic was 14.3% lower year-over-year at 1,799,189 originations in the month of June according to the Association of American Railroads (AAR). Total carloads declined 22.4% year-over-year with intermodal container and trailer traffic moving only 6.6% lower.

“June was a month in which the slow recovery process that began in early May, began to accelerate. By the end of June, freight loadings had improved by about 60,000 carload and intermodal units weekly over where...

https://www.freightwaves.com/news/june-rail-traffic-sees-recovery-accelerate

CSX’s Ed Harris retiring

A photograph of a train locomotive traveling by a forest.

CSX’s (NASDAQ: CSX) Ed Harris, an executive vice president with the railroad, will be retiring in August. CSX will fold the safety and facilities groups Harris oversaw into CSX’s operations group as his August 1 retirement date approaches.

Harris, a 50-year industry veteran, has been with CSX since January 2018, serving as executive vice president of operations before moving to his current role of executive vice president overseeing safety, performance metrics and operational planning.

The groups...

https://s29755.pcdn.co/news/csxs-ed-harris-retiring

Commentary: When will PSR-driven volume and service growth emerge?

The views expressed here are solely those of the author and do not necessarily represent the views of FreightWaves or its affiliates. 

This week’s strategic question is “What are the bold new benefits shippers can expect now that the freight railways are super-efficient?”

It is May, and freight carriers – including the railroads – have issued their first quarter 2020 report cards. Simultaneously, it is a time of considerable economic uncertainty.

Previously in such crises, certain companies and...

https://s29755.pcdn.co/news/commentary:-when-will-psr-driven-volume-and-service-growth-emerge?

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