CSX
Hauls merchandise, containers, and coal across eastern rail routes, plus chemicals by truck.
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Profile
Hauls merchandise, intermodal containers, and coal across the eastern United States and parts of Canada, with bulk chemical trucking through Quality Carriers. Merchandise freight provides most revenue, supported by a scheduled rail network linking ports, major railroads, and short-line carriers.
Moves merchandise, intermodal containers, coal, and bulk liquid chemicals through an approximately 20,000-route-mile rail network and the Quality Carriers trucking operation. The network spans the eastern United States and parts of Canada, linking customers with ports, other major railroads, and short-line carriers.
Merchandise provides most revenue across chemicals, agriculture, automotive, minerals, forest products, metals, and fertilizers. Intermodal connects long rail moves with truck pickup and delivery, while coal serves power, steelmaking, and export markets.
Scheduled service planning coordinates trains and assets around reliability and efficiency. Results depend on freight demand, labor, network fluidity, and competition from Norfolk Southern and motor carriers; railroad operations and pricing remain subject to U.S. and Canadian regulators.
Company facts
Categories
Key statistics
Year to date +41.4% · Average volume (30d) 11.6M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Jul 31, 2026 | Argus Research | Target | $32 | $56 | ||
| Jul 24, 2026 | Deutsche Bank | Reiterate | Buy | $34 | $59 | |
| Jul 23, 2026 | RBC Capital | Reiterate | Outperform | $51 | $54 | |
| Jul 23, 2026 | Stifel Nicolaus | Target | $37 | $54 | ||
| Jul 23, 2026 | BMO Capital | Reiterate | Market Perform | $45 | $52 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 22, 2026Q2 FY26 | $0.52 | $0.54 | +4.2% | $3.89B | $3.94B | +1.0% | +5.77% |
| Apr 22, 2026Q1 FY26 | $0.39 | $0.43 | +10.5% | $3.49B | $3.48B | −0.2% | +6.95% |
| Jan 22, 2026Q4 FY25 | $0.41 | $0.39 | −5.1% | $3.54B | $3.51B | −0.9% | +2.40% |
| Oct 16, 2025Q3 FY25 | $0.42 | $0.44 | +3.7% | $3.57B | $4.46B | +24.9% | +1.69% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $3.42B | $3.57B | $3.59B | $3.51B | $3.48B | $3.94B | |
| Gross profit | $1.04B | $1.28B | $1.25B | $1.11B | $1.67B | $3.94B | |
| Operating income | $1.04B | $1.28B | $1.09B | $1.11B | $1.25B | $1.51B | |
| Net income | $646.0M | $829.0M | $694.0M | $720.0M | $807.0M | $1.00B | |
| Diluted EPS | $0.34 | $0.44 | $0.37 | $0.39 | $0.43 | $0.54 | |
| Gross margin | 30.4% | 35.9% | 34.9% | 31.6% | 47.9% | 100.0% | |
| Operating margin | 30.4% | 35.9% | 30.3% | 31.6% | 36.0% | 38.3% |
Fiscal years (4-quarter sums)FY21 $12.52B · FY22 $14.85B · FY23 $14.66B · FY24 $14.54B · FY25 $14.09B
Revenue by product · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $1.39B · Total debt $19.36B · Total assets $44.73B · Shareholders' equity $14.08B
Dividends
Raised for 23 straight years — most recently to $0.14 from $0.13 in Feb 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| May 29, 2026 | May 29 | Jun 15 | $0.14 | |
| Feb 27, 2026 | Feb 27 | Mar 13 | $0.14 | raised from $0.13 |
| Nov 28, 2025 | Nov 28 | Dec 15 | $0.13 | |
| Aug 29, 2025 | Aug 29 | Sep 15 | $0.13 | |
| May 30, 2025 | May 30 | Jun 13 | $0.13 | |
| Feb 28, 2025 | Feb 28 | Mar 14 | $0.13 | raised from $0.12 |
| Nov 29, 2024 | Nov 29 | Dec 13 | $0.12 | |
| Aug 30, 2024 | Aug 30 | Sep 13 | $0.12 |
Ownership
Shares outstanding 1.85B · Float 1.85B · 99.8% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 161.06M | 8.69% | 13F | Aug 7, 2026 |
| Vanguard Capital Management LLC | 121.37M | 6.55% | 13F | Aug 13, 2026 |
| State Street Corp | 91.46M | 4.94% | 13F | Aug 7, 2026 |
| Price T Rowe Associates Inc /MD/ | 70.89M | 3.83% | 13F | Aug 14, 2026 |
| Invesco Ltd. | 58.36M | 3.15% | 13F | Aug 14, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Jul 24, 2026 | Michael S. Burns | officer: SVP - CLO & Corp Secy | −13,000 | $52.68 |
| Jul 24, 2026 | Angela C. Williams | officer: VP & Chief Accounting Officer | −30,000 | $53.29 |
| Jun 3, 2026 | Kevin S. Boone | officer: EVP & CFO | −136,708 | $46.70 |
| Jun 3, 2026 | John J. Zillmer | director | −10,000 | $46.45 |
| Mar 6, 2026 | Stephen F. Angel | director, officer: President & CEO | +25,000 | $40.27 |
Peers
- Norfolk Southern
Shares the eastern U.S. freight rail duopoly — head-to-head across all segments.
- Union Pacific
Western Class I gaining eastern reach via pending Norfolk Southern merger.
- Berkshire Hathaway Class B
BNSF (Berkshire subsidiary) — western counterpart, building eastern interline.
- J.B. Hunt
Dominant intermodal marketer contesting freight CSX seeks from long-haul trucks.
- Canadian Pacific Kansas City
Single-line Canada-US-Mexico railroad; contests cross-border and Gulf freight.
- Canadian National Railway
Tri-coastal Class I linking US Midwest-Gulf to Canada; partner and competitor.
- Knight-Swift Transportation
Diversified trucker contesting CSX merchandise freight on rail-vs-road lanes.
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| CSX | $51.59 | +0.60% | $95.00B | 29.6 | 23.9 | 6.5 | +10.1% |
| Norfolk Southern | $348.68 | +0.03% | $78.32B | 29.8 | 25.5 | 6.2 | +12.5% |
| Union Pacific | $307.42 | +0.01% | $182.62B | 24.9 | 22.7 | 7.2 | +11.5% |
| Berkshire Hathaway Class B | $504.99 | −0.00% | $1.09T | 12.7 | 23.2 | 2.8 | +3.0% |
| J.B. Hunt | $261.03 | −0.02% | $24.51B | 37.0 | 29.5 | 1.9 | +19.4% |
| Canadian Pacific Kansas City | $93.58 | −0.57% | $82.74B | 30.4 | 24.7 | 6.8 | +8.4% |
| Canadian National Railway | $126.01 | +0.02% | $76.22B | 22.5 | 21.5 | 6.0 | +6.7% |
| Knight-Swift Transportation | $67.00 | −0.36% | $10.94B | 260.3 | 20.7 | 1.4 | +12.6% |
| Median | 29.8 | 23.2 | 6.0 | +11.5% |