CSX has taken a number of actions to overcome the transition in the energy markets in recent years, emerging a stronger company that is better positioned to capitalize on momentum across nearly all the markets it serves, Chief Financial Officer Fredrik Eliasson told investors and analysts at the Baird Global Industrials Conference this month in Chicago.
“CSX‘s future is built on the continued execution of our core strategy, which means enhancing our ability to grow faster than the economy, price above inflation, make strategic investments and produce ever more efficient operations to continue delivering superior shareholder value,” Eliasson said. “The foundation of that strategy is service excellence, and we are putting the resources in place now to deliver strong service to continue creating sustainable value for our customers and shareholders.”
CSX‘s record third quarter financial results highlight the value created by executing that core strategy, while continuing to build on the company’s track record of success through the energy transition. By focusing on inflation-plus pricing and efficient operations, CSX is better positioned to capitalize on continued economic momentum and develop new customers on its network.
The company expects fourth quarter earnings per share growth to be similar to the level achieved in the third quarter. CSX remains confident in its ability to deliver double digit earnings growth and margin expansion in 2015 as it progresses toward a mid-60s operating ratio over the longer term.