CSX Corporation reported a revenue increase of $59 million, or 2%, for the first quarter of 2026, totaling $3.482 billion compared to $3.423 billion in the same period last year. The company's operating income rose significantly by $212 million, or 20%, to $1.253 billion, resulting in an improved operating margin of 36.0%, up 560 basis points from the previous year. Net earnings also saw a notable increase, reaching $807 million, or $0.43 per diluted share, a 26% rise from $646 million, or $0.34 per diluted share, in the first quarter of 2025.
Total expenses for CSX decreased by $153 million, or 6%, to $2.229 billion, primarily due to efficiency savings and a reduction in purchased services and other expenses. Labor and fringe expenses saw a slight decrease of $9 million, while purchased services and other expenses dropped by $158 million, aided by gains on property dispositions and reduced costs from previous network disruptions. Fuel costs, however, increased by $27 million due to a 14% rise in locomotive fuel prices.
In terms of operational metrics, CSX reported a 3% increase in merchandise volume, driven by higher shipments in chemicals and agricultural products, while intermodal volume also grew due to new service offerings. The company’s domestic coal revenue increased, although export coal revenue declined due to lower shipments. The overall performance indicators showed improvements in train velocity and on-time arrivals, reflecting the company's focus on operational efficiency and safety.
CSX's balance sheet as of March 31, 2026, showed total assets of $44.232 billion, an increase from $43.682 billion at the end of 2025. The company maintained a working capital deficit of $110 million, improved from a deficit of $583 million at year-end, primarily due to increased cash and short-term investments. Looking ahead, CSX plans to invest less than $2.4 billion in capital expenditures for 2026, focusing on sustaining core infrastructure and enhancing service reliability, while continuing to return cash to shareholders through dividends and share repurchases.
About CSX CORP
CSX Corporation is a leading North American transportation company specializing in rail-based freight services. Its core operations include transporting merchandise, intermodal containers, coal, and providing trucking through subsidiaries. Serving major markets across the eastern U.S. and parts of Canada, CSX offers an efficient, environmentally friendly logistics network with extensive rail infrastructure, equipment, and a focus on safety, reliability, and customer service.
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