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CSX posts higher earnings, record-low operating ratio in Q3

Despite lower revenue, CSX posted a 3 percent increase in net earnings and a company record low operating ratio (OR) for third-quarter 2019 compared to the same period a year ago, the Class I reported yesterday.

Third-quarter revenue fell 5 percent to $2.98 billion, as merchandise revenue growth was more than offset by coal and intermodal declines. CSX decreased expenses by 8 percent year over year to $1.69 billion, driven by continued efficiency gains and volume related savings, CSX officials said in a press release.

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Class I focus: Operational and efficiency gains can create a virtuous cycle for CSX

The Class I strives to continuously develop its own electronic tools, as well as tap existing and emerging technologies, to help meet strategic objectives.Photo – CSX

By Jeff Stagl, Managing Editor

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CSX appoints Bezar, Adams to senior VP roles

Rail News Home CSX Transportation 10/8/2019 Rail News: CSX Transportation
image Farrukh Bezar (left) and Arthur AdamsPhoto – CSX

CSX yesterday announced two senior appointments: Farrukh Bezar as senior vice president of marketing, and Arthur Adams as VP of merchandise sales.

The appointments were made to underscore the company's focus on leveraging its operating model and service product to increase growth in the merchandise segment, CSX officials said in a press release.

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CSX appoints Boone, Boychuk to executive roles

Rail News Home CSX Transportation 10/3/2019 Rail News: CSX Transportation
image Kevin Boone (left) and Jamie BoychukPhoto – CSX

CSX yesterday announced the appointments of Kevin Boone as executive vice president and chief financial officer, and Jamie Boychuk as EVP of operations.

Boone was named interim CFO in May. He joined CSX in 2017 as VP of corporate affairs and chief investor relations officer, then was appointed VP of marketing and strategy to lead research and data analysis to advance growth strategies. He has more than 18 years of experience in finance, mergers and acquisitions, and accounting, primarily focused on the transportation and industrial sectors.

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CSX named to sustainability index for ninth year

Rail News Home CSX Transportation 9/20/2019 Rail News: CSX Transportation
image CSX was named to the Dow Jones Sustainability Index for North America for the ninth consecutive year, recognizing the company’s leadership in sustainable and responsible business practices, the Class I announced yesterday.CSX was the only U.S.-based railroad included on the North American index in 2019, railroad officials said in a press release.CSX was recognized for performance in corporate citizenship and philanthropy, environmental policy and management systems, and human capital development.“CSX is achieving unprecedented goals — in safety, fuel efficiency, operating performance, and sustainability,” said CSX President and Chief Executive Officer James Foote. “CSX is also partnering with customers to find new ways to convert more freight from highway to rail, so together we can reduce our carbon footprint, minimize impacts on the environment and help create a more efficient supply chain.”The DJSI North America index is a partnership between the Dow Jones Indices and RobecoSAM Sustainability Assessments, which tracks the leading sustainability-driven companies based on an analysis of financially material economic, environmental and governance criteria.

Contact Progressive Railroading editorial staff.

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