CSX Achieves Record-Qualifying Quarter, Sets Sights on Long-Term Growth
CSX, one of the largest transportation companies in North America, has reported an impressive set of results for its second quarter 2026. The company achieved a 10% increase in revenue, reaching a new quarterly record, driven by stronger demand and improved operating efficiency.
"We are very pleased to have you join our second quarter 2026 earnings call," said Matthew Korn, Head of Investor Relations and Corporate Communications. Joining him from the CSX leadership team were Steve Angel, President and Chief Executive Officer, Mike Cory, EVP and Chief Operating Officer, Kevin Boone, EVP and Chief Financial Officer, and Mary Kenney, Senior Vice President and Chief Commercial Officer.
Steve Angel highlighted the company's progress toward its goal of best-in-class performance. "Stronger demand led to volume growth across our business, we managed this growth while delivering strong safety and productivity outcomes," he said. The results reflect the hard work and dedication of CSX's railroaders as they serve customers safely and reliably.
CSX achieved a 6% increase in volume and improved operating efficiency, driving substantial margin expansion and double-digit growth in operating income and earnings per share. "We are proud of our accomplishments so far this year," said Angel. "Our objective is to build an organization that can consistently deliver strong performance over the long term."
One area where CSX plans to improve performance is network fluidity and service, with plans in place to address opportunities for improvement while maintaining focus on profitable growth. The company's solid volume growth reflects the benefits of commercial initiatives, network investments, and the execution of its team across the railroad.
"Our priority is achieving profitable growth, not gaining market share for its own sake," said Angel. "We believe that industries that become too focused on market share eventually drive out profitability."
Mike Cory added that CSX made solid progress in safety and productivity this quarter, as shown on slide five of the presentation. The company's team continued its consistent and disciplined approach to managing risk and controlling cost, even as volume grew substantially.
"The strength of our safety culture is the foundation for everything we do at CSX," said Cory. "Our year-over-year safety performance was impressive in the second quarter."
The company also improved network productivity this quarter, with gains in fuel efficiency and the number of GTMs generated per unit of horsepower. Employees were more productive, and CSX moved more tonnage per train compared to a year ago.
"
