CSX Corp. Announces First Quarter 2021 Financial Results

CSX Corp. announced first quarter 2021 net earnings of $706 million, or $0.93 per share, compared to $770 million, or $1.00 per share in the same period last year.

“I am extremely proud of how our team of railroaders handled the challenges presented by the difficult operating conditions this quarter,” said James M. Foote, president and chief executive officer. “Looking forward, the strengthening economic momentum is providing added visibility into volume growth, and we are taking the necessary steps to ensure we are ready to handle these volumes and provide our customers with an industry-leading service product.”

Revenue for the first quarter decreased 1 percent from the prior year to $2.81 billion, as intermodal and other revenue growth was more than offset by declines in merchandise, coal, and fuel surcharge revenues. Expenses increased 2 percent year over year to $1.71 billion and operating income declined 7 percent for the quarter to $1.10 billion.

CSX executives will conduct a conference call with the investment community this afternoon, April 20, at 4:30 p.m. Eastern Time. Investors, media and the public may listen to the conference call by dialing 1-833-968-2260. For callers outside the U.S., dial 1-778-560-2704. Participants should dial in 10 minutes prior to the call and enter in 1037278 as the passcode.

In conjunction with the call, a live webcast will be accessible and presentation materials will be posted on the company’s website at http://investors.csx.com. Following the earnings call, a webcast replay of the presentation will be archived on the company website.

This earnings announcement, as well as additional detailed financial information, is contained in the CSX Quarterly Financial Report available through the company’s website at http://investors.csx.com and on Form 8-K with the Securities and Exchange Commission.

About CSX

CSX, based in Jacksonville, Florida, is a premier transportation company. It provides rail, intermodal and rail-to-truck transload services and solutions to customers across a broad array of markets, including energy, industrial, construction, agricultural, and consumer products. For nearly 200 years, CSX has played a critical role in the nation’s economic expansion and industrial development. Its network connects every major metropolitan area in the eastern United States, where nearly two-thirds of the nation’s population resides. It also links more than 230 short-line railroads and more than 70 ocean, river and lake ports with major population centers and farming towns alike.

Contact:

Bryan Tucker – Corporate Communications – (855) 955-6397

Source: CSX Corporation