CSX CORP (CSX) Earnings History

CSX CORP - Q1 2026 Earnings

Filed at: Apr 22, 2026, 4:01 PM EDT|Read from source

EXECUTIVE SUMMARY

CSX reported a solid first quarter with modest revenue growth driven by pricing and intermodal volume, alongside improved expense management. The company highlighted reliable service and progress towards best-in-class performance, expressing confidence in future prospects.

POSITIVE HIGHLIGHTS

  • •

    Total volume increased 3% year-over-year, indicating healthy customer demand.

    positive
  • •

    Operating income grew to $1.25 billion from $1.04 billion in the prior year.

    positive
  • •

    Net earnings increased to $807 million, or $0.43 per diluted share, up from $646 million, or $0.34 per diluted share.

    positive
  • •

    Management expressed confidence in the railroad's prospects for the year and long term.

    positive

CONCERNS & RISKS

  • •

    Revenue growth was modest at 2% year-over-year, partially offset by a decrease in export coal revenue.

    attention
  • •

    Export coal revenue decreased, impacted by lower benchmark rates.

    attention
  • •

    The company's Q4 2025 results showed operating income flat year-over-year, indicating a recent trend of slower growth.

    attention

FINANCIAL METRICS

Revenue
Quarterly
$3.48B
+2.0%
Prior year: $3.41B
Net Income
Quarterly
$807.00M
+24.9%
Prior year: $646.00M
EPS (Diluted)
Quarterly
$0.43
+26.5%
Prior year: $0.34
Operating Income
Quarterly
$1.25B
+20.2%
Prior year: $1.04B
EPS (Basic)
Quarterly
N/A
N/A

MARGIN ANALYSIS

Operating Margin
Current Quarter
35.9%
Prior Year
30.5%
YoY Change
+544 bps
Net Margin
Current Quarter
23.2%
Prior Year
18.9%
YoY Change
+426 bps

Margin expansion indicates improving profitability and operational efficiency. Measured in basis points (bps): 100 bps = 1.0%.

EARNINGS CALL —

Call date
2026-04-22
Tone
cautious
Hedge density
N/A
Deflection rate
0.0%
View transcript Source Accession: 0000277948-26-000013

CAPITAL ALLOCATION — Q1 2026 2026

  • capex_policycontinue

    funded by free cash flow

  • capex_policycontinue

Q&A SIGNALS — Q1 2026 2026

Hedge rate
N/A
Concerns retained
0
Forward commits
0

MANAGEMENT COMMENTARY

CSX performed well this quarter by providing reliable and efficient service to our customers through changing market conditions, while improving our expense profile.

— CSX CORP, Q1 2026 2026 Earnings Call

As we remain disciplined on costs and take advantage of opportunities for profitable growth, we continue to make progress toward best-in-class performance.

— CSX CORP, Q1 2026 2026 Earnings Call

I am encouraged by our railroad’s prospects for this year and over the long term.

— CSX CORP, Q1 2026 2026 Earnings Call

Commentary excerpts from earnings call transcripts provide management's perspective on performance, strategy, and outlook. Always review full transcripts for complete context.

OPERATIONAL METRICS

Volume
1.6M
+3.0% YoY
Prior year: 1.5M
units

Operational metrics provide insight into business drivers and customer engagement beyond traditional financial measures.

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