CSX Corp. (NASDAQ: CSX) announced second quarter operating income of $1.28 billion compared to $1.45 billion in the prior year period.
In an earnings release after the close of markets, the Jacksonville-based company said net income was $829 million, or $0.44 per diluted share, compared to $963 million, or $0.49 per diluted share y/y.
Revenue totaled $3.57 billion for the quarter, off 3%, year-over-year, as the effects of lower export coal prices, reduced fuel surcharge, and weaker merchandise volume were only partially offset by higher merchandise pricing, an increase in other revenue, and improved intermodal volume.
Operating income of $1.28 billion was off 11%, while operating margin was 35.9% for the quarter, decreasing by 320 basis points year-over-year but increasing by 550 basis points sequentially.
Earnings per share of $0.44 was down 10% compared to the prior year while increasing 29% from the previous quarter.
Total volume of 1.58 million units for the quarter was flat compared to second quarter 2024 and up 4% sequentially.
“The skill and commitment of CSX’s railroaders enabled us to deliver significant sequential improvements in network fluidity and cost efficiency that are apparent in our financial results,” said Joe Hinrichs, president and chief executive officer, in a release. “While uncertainty continues to impact select industrial markets, we remain focused on completing two major infrastructure projects that will strengthen our position to execute on many profitable growth opportunities ahead.”
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