Media Kit » Try RailPrime™ Today! »
Progressive Railroading
Newsletter Sign Up
Stay updated on news, articles and information for the rail industry



This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.




railPrime
View Current Digital Issue »


RAIL EMPLOYMENT & NOTICES



Rail News Home CSX Transportation

1/24/2006



Rail News: CSX Transportation

CSX's 4Q: ONE Plan gains offset hurricane-related losses


advertisement


During the fourth quarter, CSX Corp. earned record surface transportation revenue of $2.2 billion and increased operating income 32 percent to $415 million — the company’s eighth-straight quarter of revenue and operating income growth despite infrastructure repair costs and revenue losses associated with Hurricane Katrina.

In addition, CSX’s quarterly net earnings of $237 million rose 45 percent, operating ratio of 81.3 improved 4.3 points and surface transportation expenses of $1.8 billion dropped 3 percent compared with fourth-quarter 2004. Higher real estate sales and lower interest expenses helped drive up earnings.

“Our operations team is gaining traction in executing the ONE Plan, even while re-constructing our storm-damaged infrastructure on the Gulf Coast,” said CSX Chairman and Chief Executive Officer Michael Ward in a prepared statement.

During 2005, CSX’s surface transportation revenue totaled $8.6 billion, a 7.2 percent increase compared with 2004. Surface transportation operating income rose 56 percent to $1.5 billion, operating expenses were flat at $7 billion and the surface transportation operating ratio of 82 improved 5.6 points.


Contact Progressive Railroading editorial staff.

More News from 1/24/2006