CSX Corp

CSX Corporation posted a solid Q3 2025 beat on both top and bottom lines, though the headline results required careful parsing given a significant one-time charge lurking beneath the surface. Adjusted earnings came in at $0.44 per share, ahead of the $0.42 consensus estimate by 3.63%, while revenue of $3.59 billion edged past expectations by 0.48%, even as it slipped 0.9% year-over-year under pressure from lower export coal prices and softer merchandise volumes. The single most material event of the quarter was a $164 million non-cash goodwill impairment charge tied to Quality Carriers, CSX's trucking subsidiary, which pushed GAAP EPS down to $0.37 and sent total expenses surging 10% to $2.50 billion. Offsetting the revenue headwinds, intermodal volume grew 5%, driven by international port gains and domestic share wins. Notably, an insider share sale by a senior executive drew market attention shortly after results were released. CEO Steve Angel struck a confident tone, pointing to improving train velocity and safety metrics as evidence that CSX is well-positioned to convert operational strength into long-term profitable growth.