CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services in the United States and Canada. It operates through two segments: rail and trucking. The company offers rail services; and transportation of intermodal containers and trailers, as well as other transportation services, such as rail-to-truck transfers and bulk commodity operations. It also transports chemicals, agricultural and food products, minerals, automotive, forest products, fertilizers, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants, as well as exports coal to deep-water port facilities. In addition, the company provides intermodal services through a network of approximately 30 terminals transporting manufactured consumer goods in containers; and drayage services, including the pickup and delivery of intermodal shipments. It serves the automotive industry with distribution centers and storage locations, as well as connects non-rail served customers through transferring products, such as plastics and ethanol from rail to trucks. The company operates approximately 20,000 route mile rail network, which serves various population centers in 26 states east of the Mississippi River, the District of Columbia, and the Canadian provinces of Ontario and Quebec, as well as owns 3400 locomotives. It serves production and distribution facilities through track connections. CSX Corporation was incorporated in 1978 and is headquartered in Jacksonville, Florida.
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Union Pacific's $91M Fuel Surcharge Surplus Could Complicate Norfolk Southern Deal
Union Pacific reported a $91.1 million fuel-surcharge surplus in the second quarter, a figure that could become a regulatory talking point in its proposed $85 billion acquisition of Norfolk Southern. The surplus, disclosed in a Surface Transportation Board filing, dwarfed those of Norfolk Southern at $3.6 million and CSX at $8.4 million, and Union Pacific was the only major U.S. railroad whose surcharges exceeded fuel costs over the first half. Management attributed about $83.2 million, or $0.14 per share, to the net difference between fuel expense and surcharge revenue, though the company noted the timing lag cut both ways, with a $34.8 million shortfall in the first quarter and a $48 million shortfall for all of 2025. Opponents of the merger, including BNSF, have argued the combined railroad could raise shipping costs, and the surplus gives that argument a concrete figure even though benchmark-linked surcharge formulas remain permissible. The disclosure is unlikely to stop the acquisition on its own, but it could raise the regulatory cost of proving the deal would benefit customers rather than strengthen pricing power.
CSX Reports Record Revenue as Intermodal Volume Jumps 9 Percent
CSX Corp reported record second-quarter revenue of $3.94 billion, driven by a 9 percent year-over-year increase in intermodal volume to 792,000 units. Earnings per share rose 23 percent to $0.54, while operating income climbed 17 percent to $1.51 billion. The company benefited from domestic customer wins, new services, infrastructure investments, and tightening trucking capacity, which shifted more containers from long-haul trucking to rail. Management projects 5 to 9 percent revenue growth in 2026 and expects an 80 percent increase in free cash flow. CSX trades at a price-to-earnings multiple of 29 times, compared with 23.6 times for Union Pacific.
U.S. companies signal hiring rebound despite ongoing AI-driven layoffs
Several U.S. companies are looking to expand their workforce after months of holding back, signaling a potential shift in hiring trends even as artificial intelligence continues to drive job cuts. U.S. tech firms have cut nearly 140,000 jobs this year, with Amazon, Oracle, Meta, and Microsoft accounting for about 50,000 of those cuts, according to a Financial Times analysis. However, Robert Half CEO Keith Waddell noted that AI's impacts on the job market are proving more benign than feared, while Booz Allen Hamilton is accelerating hiring after last year's layoffs, CSX expects modest headcount increases, Alphabet plans to keep hiring in AI and Cloud, Ford rehired hundreds of experienced engineers, and IBM will triple its U.S. entry-level hiring this year. Gartner predicted that up to 30% of roles displaced by AI will be rehired by 2029, often at a higher cost. Still, companies including Amazon, Uber, and monday.com continue to announce AI-driven layoffs.
CSX and Knight-Swift Beat Estimates as Freight Cycle Turns, Southwest Misses on Fuel Costs
Three transportation companies reported earnings this week, revealing diverging fortunes as fuel costs surged after the Iran war began. Railroad firm CSX Corporation beat expectations with revenue rising 10% to $3.94 billion and profit of $1 billion, or 54 cents a share, driven by strong intermodal shipments, while raising its full-year outlook. Trucking company Knight-Swift Transportation Holdings saw adjusted earnings jump 80% to 63 cents per share on revenue of $2.1 billion, as a tightening truck market pushed up prices and its intermodal business neared breakeven. In contrast, Southwest Airlines posted adjusted earnings of 94 cents per share, nearly double estimates, but revenue of $8.43 billion missed expectations and a one-time accounting change inflated results; its fuel bill soared 67% to $2.22 billion, forcing it to lower full-year profit guidance to a range of $3.25 to $4.25 per share. Hedge fund data showed Knight-Swift held by 53 funds with an average portfolio weight of 19.6%, signaling strong institutional confidence ahead of the results.
Thermo Fisher, Union Pacific, CSX beat estimates while Tesla misses
Several major companies reported quarterly results. Thermo Fisher Scientific shares jumped 8.7% after second-quarter 2026 revenues of $11.99 billion beat the Zacks Consensus Estimate of $11.68 billion. Tesla shares plunged 14.5% after earnings of 33 cents per share missed the Zacks Consensus Estimate of 50 cents. Union Pacific shares gained 4% after revenues of $6.84 billion beat the estimate of $6.65 billion. CSX shares rose 5.8% after earnings of 54 cents per share beat the estimate of 50 cents.
CSX Shares Soar After Second-Quarter Earnings Beat Estimates
CSX shares jumped 5.6% after the freight rail services provider reported better-than-expected second-quarter financial results. The company posted earnings of $0.54 per share, beating consensus estimates of $0.52, while revenue reached $3.94 billion, a 10.1% increase from the previous year and above forecasts of $3.90 billion. Total sales volume rose 6.1% year on year to 1.68 million units, and the operating margin improved by 240 basis points to 38.3%. Free cash flow turned positive at $687 million compared to negative $115 million in the same quarter last year. The shares closed at $52.82, up 5.8% from the previous close.
CSX Raises 2026 Outlook After Q2 Earnings Beat Estimates
CSX Corporation reported second-quarter 2026 earnings and revenues that surpassed the Zacks Consensus Estimate and raised its full-year guidance. Quarterly earnings per share came in at 54 cents, beating the estimate of 50 cents and rising 22.7% year over year, while total revenues of $3.94 billion exceeded the $3.82 billion consensus and grew 10.1% from a year ago. For 2026, CSX now expects mid-to high single-digit revenue growth, operating margin expansion to exceed 350 basis points, and free cash flow to increase more than 80%, all upgrades from prior guidance. The company also posted a 17% increase in operating income to $1.51 billion and expanded its operating margin to 38.3% from 35.9% a year earlier.
Wall Street Favors GE Vernova Over CSX Ahead of Q2 Earnings
Wall Street is leaning firmly toward GE Vernova over CSX as both industrial heavyweights prepare to report second-quarter 2026 results on Wednesday, July 22. GE Vernova carries 30 Buy ratings, eight Hold ratings, and no Sell ratings, while CSX has 15 Buy ratings, six Hold ratings, and two Sell ratings. Analysts see GE Vernova with room to run to a consensus target of $1,221.48 from its last trade of $1,079.18, whereas CSX is already trading near its consensus target of $50.63 at $50.11. Composite sentiment scores are bullish for both, but GE Vernova's reads 66.22 with medium confidence, supported by an 85.5% Polymarket probability that second-quarter orders exceed $18 billion, while CSX's composite is 61.18 with lower confidence and no active prediction market. GE Vernova has beaten revenue estimates for four straight quarters, while CSX has beaten revenue just once in five quarters and shows net insider selling across six recent transactions.
CSX declares quarterly dividend of 14 cents per share
CSX has declared a quarterly dividend of 14 cents per share, matching its previous payout. The dividend carries a forward yield of 1.1 percent and is payable on September 15 to shareholders of record as of August 31, with the ex-dividend date also set for August 31.
CSX Upgrades Radnor Yard With Power-Operated Switches to Cut Manual Switching
CSX is upgrading its Radnor Yard in Nashville with additional power-operated switches as part of a broader push to modernize operations and yard management. The project focuses on reducing manual switching, improving yard control, and supporting safer train movements by moving 12 more switches to yardmaster control. Radnor Yard is an important hub in CSX's eastern U.S. freight network, and the upgrade fits within a wider industry move toward more controlled operations and workforce safety. While the financial impact of a single yard upgrade is hard to quantify, decisions like this can shape trends in labor needs, service reliability, and long-term capital priorities. Investors will likely view this as one piece of a broader pattern in which CSX is using capital spending to standardize yards and reduce operational friction across the network.
CSX to Report Q2 Earnings on July 22, Consensus Estimate at 49 Cents
CSX Corporation is scheduled to report second-quarter 2026 results on July 22 after market close. The Zacks Consensus Estimate for earnings has been revised upward by 4.3% over the past 60 days to 49 cents per share, while the revenue estimate stands at $14.9 billion, indicating a 5.45% increase from the year-ago quarter. CSX has beaten estimates in three of the last four quarters, with an average earnings surprise of 3.16%. The company's performance is expected to have benefited from the upgraded Southeast Mexico Express service and expanding rail-served facility network, with merchandise revenue estimated at $2.33 billion, coal at $506.7 million, and intermodal at $547.1 million. Zacks' model predicts an earnings beat this quarter, citing a positive Earnings ESP of +1.66% and a Zacks Rank of 2.
Barclays and Citi Raise CSX Price Targets on Improving Freight Demand and Pricing
Barclays and Citi have raised their price targets on CSX Corporation, citing improving freight demand and firmer pricing. Barclays lifted its target to $55 from $47 with an Overweight rating, while Citi increased its target to $53 from $46 while keeping a Neutral rating. The firms noted that solid U.S. and international freight demand, reduced transportation capacity, higher U.S. imports, and firmer core freight pricing could support stronger earnings. Citi added that second-quarter earnings for transportation companies could be among the strongest in years as tighter capacity combines with moderately improving demand. The differing ratings indicate that the firms do not share the same degree of conviction in the stock.
Jim Cramer calls CSX a great long-term investment, sees stock reaching $60
Jim Cramer said on Mad Money that CSX Corporation is a great long-term investment, praising new CEO Steve Angel and predicting the stock could rise from $48 to $60. Cramer highlighted Angel's track record at Linde and noted that while a takeover is possible, investors should focus on improving fundamentals and lower spending. He also expressed optimism about the rail sector, mentioning Union Pacific as another favorite. Cramer cautioned against buying CSX solely on merger speculation but believes the business is set to improve dramatically this year.
CSX Faces Headwinds: Three Reasons to Sell and One Stock to Buy Instead
CSX has outperformed the S&P 500 by 29.2% over the past six months, with its stock price climbing 38.1% to $48.79, but analysts at StockStory now recommend selling. They cite three concerns: sales volumes have stalled at 1.56 million units in the latest quarter, suggesting market saturation or rising competition; earnings per share have grown only 7.6% annually over the past five years, indicating limited profitability expansion; and free cash flow margin has dropped by 15.3 percentage points over five years to 14.3%, signaling higher capital intensity. With the stock trading at 24.8 times forward earnings, they believe good news is already priced in and point to a top software and edge computing pick as a better opportunity.
Rising intermodal volume slows big four U.S. rail systems
The big four U.S. Class I railroads are experiencing slower intermodal train speeds as a surge in volume, driven by shippers turning to rail amid high fuel prices and trucking rate spikes, strains their networks. Independent analyst Rick Paterson noted in his June 26 State of the Rails report that average intermodal train speed has fallen to multi-year lows in some cases, with BNSF and Union Pacific at 10-month lows, Norfolk Southern within 2% of a 20-month low, and CSX at a seven-year low. Second-quarter intermodal volume growth through the week ending June 21 shows BNSF up 9.5%, CSX up 8.3%, Norfolk Southern up 5.1%, and Union Pacific up 3.3%, with weekly gains of 15%, 14%, 12%, and 13% respectively. Paterson cautioned that the industry must manage the speed and on-time performance challenges to retain the volume windfall once truck-versus-rail rates stabilize, noting that Norfolk Southern is hiring crews at about half its terminals and CSX is hiring conductors at 40 locations. In contrast, Canadian National and CPKC saw quarterly intermodal volume declines of 4% and 0.6% respectively, with train speeds improving on both railways.
StockStory flags Disney, Carnival, and CSX as large-cap stocks with warning signs
StockStory identified three large-cap stocks facing near-term headwinds. Disney, with a market cap of $174.2 billion, showed annual revenue growth of 10.8% over five years, a free cash flow margin of 9.4%, and a return on invested capital of 7.3%. Carnival, valued at $38.9 billion, experienced sluggish passenger cruise day trends and below-average returns on capital, though its free cash flow margin is forecast to improve by 1.6 percentage points. CSX, at an $88.01 billion market cap, reported flat unit sales, a 3.4% annual drop in earnings per share, and a 15.3 percentage point decline in free cash flow margin over five years.
CSX launches double-stack service through upgraded Howard Street Tunnel
CSX and the Port of Baltimore have launched double-stack rail service through the upgraded Howard Street Tunnel, a 131-year-old corridor whose increased clearance now allows double-stacked container trains and greater freight capacity. The long-planned infrastructure upgrade is expected to enhance supply chain efficiency for East Coast shippers and support regional economic development, while potentially improving CSX's network productivity and emissions profile. The launch directly addresses a key prior risk around infrastructure execution, though near-term attention will focus on whether network changes such as the Barr Yard restructuring create service challenges that offset efficiency gains. CSX's upcoming Q2 2026 earnings release on July 22 is expected to offer fresh color on how recent operational moves are flowing through to volumes, costs, and service metrics. The company's narrative projects $16.2 billion revenue and $4.2 billion earnings by 2029, requiring 4.6% yearly revenue growth and a $1.2 billion earnings increase from $3.0 billion today.
RBC Capital raises CSX price target to $51, says railroad is well positioned regardless of consolidation
RBC Capital raised its price target on CSX Corporation to $51 from $47 while reiterating an Outperform rating. The firm believes CSX is in a strong position regardless of how rail industry consolidation plays out, noting the company has operationally turned around and expects its core business to deliver stronger performance whether or not a merger between Union Pacific and Norfolk Southern moves forward. Earlier, on June 17, BofA increased its price target on CSX to $53 from $51 and maintained a Buy rating, with analyst Ken Hoexter raising second-quarter earnings-per-share estimates by 3% and 2026 and 2027 estimates by 2% after reviewing the company's quarter-to-date update. BofA noted that carloads were up 6.0% year over year during the quarter so far, well above its previous growth estimate of 2.7%.
Berkshire Hathaway Opposes Union Pacific-Norfolk Southern Merger
Berkshire Hathaway opposes the proposed $85 billion merger of railroad operators Union Pacific and Norfolk Southern, according to a Financial Times report. The company's BNSF Railway unit is concerned the consolidation would raise costs for customers and cause affordability issues for consumers. BNSF CEO Katie Farmer warned that Union Pacific would raise rates to pay for the merger if anticipated cargo volume increases do not materialize. Berkshire believes the railroad industry would benefit more from partnerships rather than consolidation, citing BNSF's existing coast-to-coast service partnership with CSX.
Transportation and Logistics Stocks Post Strong Q1 Earnings, Beating Revenue Estimates by 2.2%
The 27 transportation and logistics stocks tracked by StockStory reported a very strong first quarter, with aggregate revenues beating analysts' consensus estimates by 2.2%. CSX posted revenues of $3.48 billion, up 1.7% year on year and in line with expectations, while delivering a solid beat on adjusted operating income and EPS. Genco achieved the biggest analyst estimate beat and fastest revenue growth among its peers, with revenues of $72.02 million surging 73% year on year. Universal Logistics was the weakest performer, with revenues of $367.6 million down 3.9% year on year and missing estimates by 1.3%. Expeditors reported revenues of $2.78 billion, up 4.4% and topping expectations by 6.5%, and Hertz posted revenues of $2.00 billion, up 10.5% and beating estimates by 5.9%. Share prices of the group have held steady, rising 4.6% on average since the latest earnings results.
CSX Stock Surges 45.5% Over the Past Year, Outpacing Rail Industry
CSX shares have surged 45.5% over the past year, significantly outperforming the Zacks Transportation - Rail industry's 22.5% growth. The company is expected to benefit from the upgraded Southeast Mexico Express service, which promises faster transit times and expanded market access, potentially driving additional freight volumes. CSX added 85 new or expanded rail-served facilities and returned $2.4 billion to shareholders through dividends and share repurchases, while an 8% dividend increase and investments in artificial intelligence underscore management's confidence. Safety and service performance also improved, with the FRA personal injury frequency index improving to 0.94 and the train accident rate improving to 3.08. The Zacks Consensus Estimate for full-year 2026 and 2027 has been revised upward by 3.26% and 3.37%, respectively, over the past 60 days.
CSX Outperforms Transportation Sector With 29.4% Year-to-Date Gain
CSX has returned about 29.4% year-to-date, outpacing the average 15.2% gain of the broader Transportation sector. The stock holds a Zacks Rank of 2, or Buy, and its full-year consensus earnings estimate has risen 2.9% over the past three months. Within the Transportation - Rail industry, which has gained an average of 18.2% this year, CSX is also performing better. Another sector constituent, EuroDry, has surged 97.9% year-to-date and belongs to the Transportation - Shipping industry, which is up 40.7%.