CSX (CSX) Q3 2026 Earnings
Prior year Q3 2025 GAAP EPS of $0.37 included a $164 million non-cash goodwill impairment charge related to Quality Carriers (reducing prior year EPS by $0.07). Current Q3 2026 results have no comparable one-time items.
How Did CSX Stock React to Q3 2026 Earnings?
Did CSX Beat Earnings? Q3 2026 Results
Yes. CSX reported Q3 2026 earnings of $0.57 a share on Oct 21, 2026, beating the $0.54 consensus estimate by 6.3%. Revenue was $4.0B against a $3.9B estimate.
CSX Corporation kicked off railroad earnings season on a strong note, posting third-quarter 2026 GAAP diluted EPS of $0.57, beating the $0.54 consensus estimate by 6.32%, while revenue of $4.02 billion cleared expectations by 2.18%, though it came in 9.9% below the year-ago period. The headline EPS figure compared favorably to the prior year's $0.37, which included a $164 million non-cash goodwill impairment charge related to Quality Carriers. The single biggest driver of the quarter's strength was a surge in fuel surcharge revenue, which nearly doubled to $466 million from $234 million a year earlier, bolstering an operating margin that expanded to 39.1% from 30.3%. Total volume rose 5%, with intermodal leading at 7% growth on customer wins and a tightening truck market. Ahead of the print, at least one analyst had trimmed their price target on the stock while keeping a positive rating, though the results appeared to validate that underlying optimism. CEO Steve Angel said the company is well-positioned entering the fourth quarter, with continued progress toward best-in-class performance targeted for 2027.
- Increased fuel surcharge revenue, nearly doubling from $234M to $466M year-over-year
- Higher volume and pricing across merchandise, intermodal, and coal
- Intermodal volume growth of 7% driven by customer wins, new service offerings, and tightening truck environment
- Chemicals volume up 7% from higher petcoke, waste, plastics, and crude oil shipments
- Metals and Equipment volume up 12% from higher steel, equipment, and aluminum shipments
- Efficiency savings and lower headcount reducing expenses despite fuel cost inflation
- Export coal volume increase from re-opened mine production
- Operating margin expanded 880 basis points to 39.1%
“CSX delivered strong earnings growth in the third quarter as disciplined execution helped us move more freight, for more customers, while maintaining our high standards for safety and service.”
CSX CEO, on the earnings call
What Is CSX's Outlook?
CEO Steve Angel indicated the company is well-positioned entering the fourth quarter and looks forward to making continued progress toward best-in-class performance in 2027.
CSX YoY Financials
| Metric | Q3 2026 | Q3 2025 | Year over year |
|---|---|---|---|
| Revenue | $4.0B | $4.5B | −9.9% |
| Operating Income | $1.6B | $1.1B | +47.3% |
| Net Income | $1.1B | $673.0M | +56.3% |
CSX Revenue by Segment
When Does CSX Report Next?
Figures from SEC filings and company reports. Not investment advice.