"Our quarterly results reflect the subdued industrial demand environment and actions taken to adjust our cost structure," said Steve Angel, president and chief executive officer. "CSX has a strong operational foundation, and we are positioned to deliver improved financial performance in 2026 as we focus on driving productivity, cost control, and capital discipline while continuing to provide safe and reliable service."
Fourth Quarter Financial Highlights1
Revenue totaled $3.51 billion for the quarter, decreasing 1% year-over-year, as the effects of lower merchandise volume and reduced export coal revenue offset higher pricing in merchandise and intermodal, an increase in intermodal volume, and higher fuel surcharge revenue.
Operating income was $1.11 billion, compared to adjusted operating income of $1.21 billion in the prior year. Operating margin was 31.6%, compared to operating margin of 31.3% and adjusted operating margin of 34.3% in the fourth quarter of 2024.
EPS was $0.39, compared to adjusted EPS of $0.42 in the prior year.
Fourth quarter operating income and EPS include $50 million and $0.02, respectively, in severance and technology rationalization expense.
Full Year 2025 Financial Highlights1
Revenue totaled $14.09 billion in 2025.
Operating income was $4.52 billion, and adjusted operating income was $4.69 billion, excluding a $164 million goodwill impairment charge in the third quarter. CSX's operating margin was 32.1% for the full year, and adjusted operating margin was 33.2%.
EPS was $1.54, and adjusted EPS was $1.61.
CSX executives will conduct a conference call with the investment community this afternoon, Jan. 22, at 4:30 p.m. Eastern Time. Investors, media and the public ...
