Companies /Industrials

CSX Corp

NASDAQ: CSX Railroads
$51.48
▼ $0.28 (−0.54%) today
Markets open · 1:47pm ET

Q2 2026 Earnings

Reported Jul 22, 2026, 4:01pm ET · SEC source
$0.54
Beat +4.31%
EPS · est. $0.52
$3.9B
Beat +0.90%
Revenue · est. $3.9B
−6.0%
Trailing market
CSX vs S&P since report
2 quarters
Consecutive EPS beats

Market Reaction

% change · around the report
0+3%+6%Jul 22Jul 23report 4:01pm ETearnings−1.1%+5.3%
0+3%+6%Jul 22Jul 23earnings−1.1%+5.3%
CSX +5.3%S&P 500 −1.1%
0+3%+6%Jul 22Jul 23report 4:01pm ETearnings−1.5%+5.3%
0+3%+6%Jul 22Jul 23earnings−1.5%+5.3%
CSX +5.3%NASDAQ −1.5%
−6%−3%0+3%Jul 21Jul 30report 4:01pm ETearnings−0.8%−3.9%
−6%−3%0+3%Jul 21Jul 30earnings−0.8%−3.9%
CSX −3.9%S&P 500 −0.8%
−6%−3%0+3%Jul 21Jul 30report 4:01pm ETearnings−2.8%−3.9%
−6%−3%0+3%Jul 21Jul 30earnings−2.8%−3.9%
CSX −3.9%NASDAQ −2.8%
+5.77%
Day of report
+0.80%
Next session
−4.96%
One week
−2.59%
30 days

S&P 500 over the same 30 days: +3.43%.

Did CSX Beat Earnings? Q2 2026 Results

CSX Corp. posted a convincing second-quarter 2026 earnings beat, reporting diluted EPS of $0.54 against a consensus estimate of $0.52, a 4.31% positive surprise, as record quarterly revenue of $3.94 billion topped the $3.90 billion estimate by 0.90% and climbed 10.1% year over year. The standout driver behind the quarter's strength was a powerful combination of volume growth and pricing momentum, with total carloads rising 6% and intermodal units surging 9% as a tightening truck market pushed shippers toward rail. Fuel surcharge revenue nearly doubled to $410 million, while disciplined cost control, including a $39 million decline in non-fuel expenses and a headcount reduction of more than 1,300, helped expand operating margin by 240 basis points to 38.3%. Net earnings climbed 21% to $1 billion, and the company returned $284 million to shareholders through buybacks in the quarter alone. Investors have taken note of CSX's robust intermodal demand and cost discipline, and CEO Steve Angel signaled the company will sharpen service execution heading into the second half of 2026.

Key Takeaways
  • Increased fuel surcharge revenue, nearly doubling year-over-year to $410 million
  • 6% total volume growth with broad-based increases across markets
  • 9% intermodal volume growth driven by customer wins, new service offerings, and tightening truck environment
  • Higher pricing across merchandise, intermodal, and coal
  • Chemicals volume up 8% on higher plastics, waste, petcoke, and sand shipments
  • Export coal benefited from re-opened mines and higher metallurgical and thermal coal shipments
  • Efficiency savings of $54 million in purchased services and other costs
  • Lower headcount reducing labor costs, average employees down 1,343 year-over-year
  • Depreciation decline of $16 million from equipment depreciation study

“Our second quarter results reflect the solid progress we're making at CSX. Our railroaders successfully managed substantial volume growth while maintaining a consistent focus on safety and productivity, which allowed us to deliver improved financial performance.”

CSX CEO, on the earnings call

Forward Guidance & Outlook

CEO Steve Angel indicated CSX will strengthen service execution in the second half of 2026 as it continues to build momentum across the business.

CSX YoY Financials

Q2 2026 vs Q2 2025 · SEC filings Q2 2025 Q2 2026
$0$2.0B$4.0B$3.6B$3.9BRevenue$1.3B$1.5BOperating Income$829.0M$1.0BNet Income
$0$2.0B$4.0BRevenueOperating IncomeNet Income

CSX Revenue by Segment

Total Merchandise$2.4B+8.0%
Chemicals$774.0M+10.0%
Intermodal$620.0M+26.0%
Coal$520.0M+9.0%
Agricultural and Food Products$444.0M+6.0%
Automotive$332.0M+4.0%
Forest Products$266.0M+6.0%
Metals and Equipment$256.0M+14.0%

Figures from SEC filings and company reports. Not investment advice.