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Feb
23

CSX joins Nasdaq-100 Index

CSX became a component of the Nasdaq-100 Index as of yesterday's market open, the company announced yesterday.

The index is composed of the 100 largest non-financial stocks listed on the Nasdaq Stock Market based on market capitalization. CSX currently has a market capitalization of about $25 billion, CSX officials said in a press release.

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Feb
18

CSX expects significant decline in Q1 earnings

CSX Chief Financial Officer Frank Lonegro said yesterday the company expects this year's economy to be "challenging," as the Class I faces intensifying coal headwinds and other economic factors that will contribute to declining volumes.

In a press release, Lonegro said CSX expects first-quarter earnings to drop "significantly."

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Feb
16

CSX to cut back on car repair facilities

CSX will streamline operations at 16 of its car repair facilities as part of an ongoing effort to align resources with demand, the Class I announced last week.

Operations will be reduced at car shops in Montgomery, Ala.; Washington, D.C.; Baldwin, Fla.; Indianapolis and Evansville, Ind; New Orleans; Detroit and Grand Rapids, Mich.; Wilmington, N.C.; Kenmore, N.Y.; Ashtabula, Ohio; Erie and Pittsburgh, Pa.; Florence, S.C.; Richmond, Va.; and Huntington, W.Va., according to a CSX press release.

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Feb
02

FRA, District DOT to host public meeting on Long Bridge project

The Federal Railroad Administration (FRA) and the District Department of Transportation (DDOT) in Washington, D.C., will host a meeting Feb. 10 to gather public input on the replacement or rehabilitation of the Long Bridge.

The meeting is part of the Long Bridge Phase II study, which is underway. The existing two-track bridge is owned by CSX and serves freight, Amtrak and Virginia Railway Express (VRE) trains.

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Jan
19

CSX to consolidate operating divisions, close Huntington office

CSX Corp. announced yesterday that it's consolidating operations administration from 10 divisions to nine divisions and closing administrative offices in Huntington, W.Va.

Huntington Division administration will be reassigned to the Atlanta, Baltimore, Florence, Great Lakes and Louisville divisions, the company said in a press release.

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Jan
15

CSX unveils plan for major intermodal hub in North Carolina

CSX will develop a major freight-rail intermodal terminal in Johnston County, N.C., the company and Gov. Pat McCrory announced yesterday.

The proposed "Carolina Connector," or CCX, will serve as an intermodal transportation hub in the south, transferring a range of goods — from food to furniture to appliances — between trucks and trains, CSX officials said in a press release.

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Jan
13

CSX posts lower Q4 profit, achieves sub-70 operating ratio for 2015

CSX Corp.'s fourth-quarter 2015 revenue and profit were down compared with the same quarter in 2014, but the Class I's results beat Wall Street's expectations.

CSX reported yesterday that fourth-quarter 2015 net earnings declined 5 percent to $466 million, or 48 cents per share, compared with $491 million, or 49 cents per share, in the prior year's quarter.

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Jan
12

CSX names new sales, marketing leaders

CSX yesterday announced new leadership appointments to its sales and marketing organization.

Dean Piacente has been named vice president-intermodal; Clark Robertson, VP-chemicals; and Tim McNulty, VP-agriculture. All three will report to Fredrick Eliasson, executive VP and chief sales and marketing officer, according to a CSX press release.

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Jan
08

CSX reports $2.2 billion in customer investments, unveils food distribution grant recipients

CSX worked with customers to locate 107 new plants or expanded facilities — projects worth $2.2 billion in customer investments — on the company's rail network last year, the Class I announced yesterday.

The new projects are expected to generate 1,500 new jobs in CSX-served areas, CSX officials said in a news release.

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Jan
04

Florida DOT considers proposed rail overpass for CSX line

The Florida Department of Transportation (FDOT) will host a public meeting today on alternatives for a proposed railroad overpass in the city of Starke.

The meeting is being held as part of FDOT's project development and environment study for the possible overpass and potential locations, FDOT officials said in a press release.

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