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Rail News: CSX Transportation

CSX's annual report stresses strategic objectives

CSX Corp. recently issued its 2013 Annual Report, which outlines ways the Class I plans to further capitalize on growth opportunities and meet strategic objectives.

Among them: invest to support changes in energy markets; maintain investments in double-stack intermodal capabilities through the National Gateway and new or expanded regional terminals; drive customer satisfaction through improved communication and collaboration; stress strong safety performance; and mind the environmental footprint by increasing sustainable development activities and amplifying engagement with local communities.

"The CSX you see today has overcome a challenging macroeconomic environment while transforming itself to leverage the growth opportunities that exist in nearly all of its businesses," Chairman, President and Chief Executive Officer Michael Ward wrote in the report. "Today, CSX is a vibrant, healthy company that is meeting an essential need for the country and driving service excellence."

Over the past decade, the railroad has increased operating income by nearly 600 percent and improved its operating ratio by more than 2,200 basis points while driving earnings growth of nearly 2,000 percent, the report states. As coal headwinds subside, investments in intermodal and other markets take hold, and operations continue to drive efficiency, CSX expects to generate double-digit earnings growth, said Ward. In addition, the Class I continues to focus on achieving a mid-60s operating ratio over the long term.

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