CSX Corp. announced third quarter 2024 operating income of $1.35 billion compared to $1.27 billion in the prior year period.
Net earnings were $894 million, or $0.46 per diluted share, compared to $828 million, or $0.41 per diluted share, in the same period last year. Total volume of 1.59 million units for the quarter was 3% higher compared to third quarter 2023.
“CSX’s commitment to excellent service allowed us to deliver meaningful growth in volume, operating income, and operating margin in the third quarter,” Joe Hinrichs, president and chief executive officer, said in an announcement. “Over the last several weeks CSX, along with many of the communities in which we operate, was presented with significant challenges brought about by the recent hurricanes. Thanks to the dedication of our employees, our network has remained flexible and resilient, and we remain ready to meet our customers’ needs as they increasingly favor the efficiency and reliability being delivered by the ONE CSX team.”
Other highlights include:
- Revenue totaled $3.62 billion for the quarter, an increase of 1% year-over-year, as growth in merchandise and intermodal volume, as well as merchandise pricing gains, were partially offset by a decline in coal revenue (including the effects of lower global benchmark prices), lower fuel surcharge, and a reduction in other revenue.
- Operating income of $1.35 billion increased 7% compared to the same period in 2023. CSX’s operating margin was 37.4% for the quarter, increasing 180 basis points year-over-year.
- Diluted EPS of $0.46 increased 12% compared to the prior year quarter.
