CSX Corp. announced last week that its fourth-quarter 2024 operating income was $1.11 billion, down from $1.32 billion last year.
Net income was $733 million, or $0.38 per diluted share, compared to $882 million, or $0.45 per diluted share, last year.
The fourth-quarter results include a pre-tax, non-cash goodwill impairment charge of $108 million. The total volume of 1.58 million units was 1% higher than the fourth quarter of 2023.
CSX’s operating income of $5.25 billion in 2024 was down 5% from the previous year. Net income was $3.47 billion, or $1.79 per share, compared to $3.67 billion, or $1.82 per share, in 2023.
Adjusted for the goodwill impairment charge, operating income was $1.21 billion for the quarter and $5.35 billion for the year. Adjusted net income was $815 million, or $0.42 per diluted share, for the quarter and $3.55 billion, or $1.83 per diluted share, for the full year.
“While 2024 had its challenges, I am proud of how the ONE CSX team responded. We managed through substantial impacts from major hurricanes and the Key Bridge outage early in the year and remained focused on delivering industry-leading customer satisfaction,” Joe Hinrichs, CSX president and chief executive officer, said in a release. “We will remain disciplined in delivering safety, service, and operating efficiency performance as we invest in the strength and capabilities of our network this year, and we look forward to delivering on the profitable growth opportunities ahead of us.”
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