CSX posts higher Q4 revenue, cites growth in key business lines

CSX Corp. yesterday reported fourth-quarter 2021 net earnings of $934 million, or 42 cents per share, compared with $760 million, or 33 cents per share, in Q4 2020.

The Class I posted an operating ratio for Q4 2021 of 60.1% compared to 57% a year earlier. Prior year results include a pre-tax charge of $48 million within other expenses, or 2 cents per share after-tax, related to the early retirement of debt, CSX officials said in a press release.

Fourth-quarter revenue increased 21% to $3.43 billion, which CSX attributed to growth across all major lines of business, increases in other revenue and the inclusion of Quality Carriers Inc.’s results. CSX completed its acquisition of the bulk liquid chemicals truck transportation provider in Q2 2021.

The railroad’s quarterly operating income rose 12% to $1.37 billion.

"As we enter 2022, we remain committed to providing our customers high quality service and creating additional capacity to help them address current supply chain challenges through the increased use of rail," said CSX President and CEO James Foote.