CSX(NASDAQ) CSX

CSX moves freight across the eastern United States using a large network of trains and trucks. It helps businesses ship heavy goods like coal, chemicals, and cars more efficiently than driving them by road. This service keeps store shelves full and provides fuel for power plants and factories.

Freight by the Trainload

• Merchandise: Transports chemicals, farm products, cars, minerals, and metals for industrial customers; generated 62% of revenue in 2025.
• Intermodal: Moves shipping containers using both rail and trucks to provide flexible delivery for consumer goods; accounted for 15% of revenue in 2025.
• Coal: Delivers domestic and export coal to power plants, steel manufacturers, and port facilities; made up 13% of revenue in 2025.
• Trucking: Provides specialized liquid chemical transport through Quality Carriers and other logistics services; contributed 6% of revenue in 2025.

Recent Moves and Strategic Shifts

• Acquired Quality Carriers to become the largest North American provider of bulk liquid chemical truck transportation.
• Integrated the Pan Am rail network to extend service directly into New England and the New York metropolitan area.
• Ratified new labor agreements for 75% of the unionized workforce as of early 2026 to ensure stable operations.
• Invested in the Howard Street tunnel project to improve network fluidity and reduce congestion in key shipping corridors.

What Makes CSX Different?

The company operates a 20,000 route-mile network serving 26 states and two Canadian provinces with exclusive access to over 70 port terminals. This infrastructure connects every major population center in the eastern U.S. to global shipping lanes and western rail gateways.

The 2025 Financial Scorecard

• Revenue reached $14.1 billion in 2025, a 3% decrease from the previous year.
• Operating income was $4.5 billion in 2025, down 14% year-over-year.
• Free cash flow rose to $709 million in Q4 2025, up 28.9% from Q4 2024.
• Net income for Q4 2025 was $720 million, down 1.8% from the same period in 2024.
• Share repurchases totaled $112 million during the fourth quarter of 2025.

The Long View

CSX has transformed from a traditional 19th-century railroad into a modern logistics provider by adding trucking and digital technology to its rail core. Its ability to move diverse goods across a fixed, essential network remains central to North American trade.