CSX Corporation 8-K
PositiveEarnings
Intermodal growth and higher fuel surcharges lifted sales; H2 focus is on service execution as dwell and on-time arrivals worsen.
Filed 2026-07-22 16:01 ET
- 2.02 Results of Operations
- 9.01 Financial Statements and Exhibits
Summary
Q2 2026 results with no quantified outlook. Revenue rose 10% as fuel surcharge revenue increased and volume and pricing improved across merchandise, intermodal and coal. Volume grew 6%, led by 9% intermodal growth; CSX said it will focus on strengthening service execution in H2.
Key Figures
| Metric | Q2 2026 | Q2 2025 | Y/Y |
|---|---|---|---|
| Revenue | $3.94B | $3.57B | 10% |
| Operating income | $1.51B | $1.28B | 17% |
| GAAP net earnings | $1.00B | $829M | 21% |
| Diluted EPS | $0.54 | $0.44 | 23% |
| Operating margin | 38.3% | 35.9% | 240 bp |
| Total volume | 1.68M units | 1.58M units | 6% |
- Six-month operating cash flow was $2.60B vs $1.89B; free cash flow before dividends, a non-GAAP measure, was $1.62B vs $444M.
- Q2 share repurchases were 6M shares for $284M vs 14M shares for $401M; average diluted shares outstanding fell to 1,859M from 1,869M. Cash was $1.01B at 6/30/2026 vs $670M at year-end.
- Higher volume and fuel surcharge revenue lifted sales; fuel expense rose $177M, primarily on a 74% increase in locomotive fuel prices. Service indicators were mixed: velocity improved 3%, while dwell worsened 6% and on-time arrivals declined 2%.
Guidance
No guidance in this filing.
Investor Takeaways
- Watch whether H2 service execution improves, particularly dwell, on-time arrivals and trip-plan performance, as CSX manages continued volume growth.
The summary is written by an AI model reading the filing.
Model 005 · prompt 01d34d48e3