JACKSONVILLE, Fla. — CSX Corp.’s sustained culture of accountability and continuous improvement has been fundamental to its ability to create significant value over a wide array of economic conditions, including the recent recession, Oscar Munoz, executive vice president and chief financial officer, told participants at the “CFO Rising East: Creating a Sustainable Edge” conference.
JACKSONVILLE, Fla. — CSX Corporation announced the names of the directors to be nominated for election at its 2011 Annual Meeting of Shareholders and said the size of the Board will be increased to 13 members. CSX reported that one current director will not stand for re-election and that two new candidates will be included in the slate.
JACKSONVILLE, Fla. — CSX Transportation Inc. significantly increased its spending on products and services with minority providers in 2010, setting a new record, the company said. The company spent nearly $105 million with firms owned by minorities and women. The products and services range from signals to technology. “Encouraging business with minority and women-owned suppliers diversifies and strengthens our supplier base, and creates good jobs for our economy,” said Fran Chinnici, vice president-purchasing. “Good business fundamentals include diversity in all aspects of what we do. We recognize the value of expanding our base of qualified suppliers in a competitive marketplace.” Despite some
JACKSONVILLE, Fla. — CSX Corp. said its continued participation in Environmental Defense Fund’s (EDF) Climate Corps for 2011. EDF Climate Corps places top MBA students in companies to develop practical, actionable energy efficiency plans that cut costs and greenhouse gas emissions. As a result of its participation in the program last year, CSX and the company’s fellow identified savings of more than $160,000, 1.5 million kWh of electricity (enough to power 140 homes), and 940 metric tons of CO2 (equivalent to removing 150 SUVs from the road) annually. “CSX’s commitment to the environment has enabled the company to drive great results
JACKSONVILLE, Fla. — CSX Corp. will invest $2 billion to increase the quality, flexibility and capacity of its rail network, the company announced as part of its quarterly and full-year earnings report. That’s on top of the $1.8 billion the company invested in 2010, a year in which operating income was $3.1 billion. “CSX believes in the ability of the U.S. economy to continue growing and is committed to supporting its customers as that occurs,” saidMichael J. Ward, CSX chairman, president and chief executive officer. “This is an important time for CSX and other companies to take stock in what we need to do
CSX Corporation announced fourth quarter earnings of $430 million, or $1.14 per share, versus $303 million, or $0.77per share, in the same period last year. This represents a 48 percent year-over-year improvement in earnings per share and a record fourth quarter for the company. Fourth quarter revenue grew to $2.8 billion, a 21 percent increase from the prior year, on a 13 percent increase in volume. The fourth quarter of 2010 included an extra week resulting from the company’s 52/53 week fiscal reporting calendar. Excluding the extra week, revenue increased 14 percent and volume increased seven percent on a comparable basis. Continued revenue growth, along