Companies /Industrials

CSX Corp

NASDAQ: CSX Railroads
$51.30
▼ $0.24 (−0.47%) today
Markets open · 3:43pm ET

Q4 2025 Earnings

Reported Jan 22, 2026, 4:01pm ET · SEC source
$0.39
Miss −5.32%
EPS · est. $0.41
$3.5B
Miss −0.86%
Revenue · est. $3.5B
+14.7%
Beating market
CSX vs S&P since report
2 quarters
Consecutive EPS beats

Market Reaction

% change · around the report
−2%0+2%+4%Jan 22Jan 23report 4:01pm ETearnings−0.1%+0.3%
−2%0+2%+4%Jan 22Jan 23earnings−0.1%+0.3%
CSX +0.3%S&P 500 −0.1%
−2%0+2%+4%Jan 22Jan 23report 4:01pm ETearnings+0.2%+0.3%
−2%0+2%+4%Jan 22Jan 23earnings+0.2%+0.3%
CSX +0.3%NASDAQ +0.2%
−2%0+2%Jan 21Jan 30report 4:01pm ETearnings+0.4%+2.1%
−2%0+2%Jan 21Jan 30earnings+0.4%+2.1%
CSX +2.1%S&P 500 +0.4%
−2%0+2%Jan 21Jan 30report 4:01pm ETearnings+0.1%+2.1%
−2%0+2%Jan 21Jan 30earnings+0.1%+2.1%
CSX +2.1%NASDAQ +0.1%
+2.40%
Day of report
+2.27%
Next session
+3.06%
One week
+15.23%
30 days

S&P 500 over the same 30 days: +0.57%.

Did CSX Beat Earnings? Q4 2025 Results

CSX Corporation delivered a mixed fourth quarter for 2025, missing on the bottom line while posting a notable revenue beat against a subdued demand backdrop. The railroad earned $0.39 per share, falling 7.65% short of the $0.42 consensus estimate, as roughly $50 million in severance and technology rationalization charges weighed on results. Revenue came in at $3.51 billion, topping the $2.67 billion estimate by 31.26%, though the figure still represented a 0.9% decline from the year-ago period, dragged lower by soft merchandise volumes and weaker export coal revenue tied to lower benchmark pricing. Chemicals shipments fell 6% and automotive volumes dropped 5% on reduced North American vehicle production, underscoring the challenging industrial environment the company is navigating. On the cost side, higher labor expenses and elevated derailment and casualty charges added pressure, even as operational metrics improved sharply, with train velocity up 7% and personal injury frequency down 39%. CEO Steve Angel signaled that productivity gains and capital discipline should position CSX for improved financial performance heading into 2026.

Key Takeaways
  • Higher pricing in merchandise and intermodal offset by lower merchandise volume and reduced export coal revenue
  • Intermodal volume increased 5% driven by key customer wins and new service offerings
  • Minerals volume increased 6% on higher aggregates and cement shipments
  • Fertilizers volume increased 7% due to higher short-haul phosphates shipments
  • Train velocity improved 7% and dwell improved 13% year-over-year
  • Personal injury frequency improved 39% and train accident rate improved 47%
  • Employee headcount reduced by 601 to 22,935 reflecting cost restructuring
  • Fuel surcharge revenue increased to $243 million from $221 million

“Our quarterly results reflect the subdued industrial demand environment and actions taken to adjust our cost structure.”

CSX CEO, on the earnings call

Forward Guidance & Outlook

CEO Steve Angel indicated that CSX is positioned to deliver improved financial performance in 2026, focusing on driving productivity, cost control, and capital discipline while continuing to provide safe and reliable service.

CSX YoY Financials

Q4 2025 vs Q4 2024 · SEC filings Q4 2024 Q4 2025
$0$1.0B$2.0B$3.0B$3.5B$3.5BRevenue$1.2B$1.1BOperating Income$733.0M$720.0MNet Income
$0$1.0B$2.0B$3.0BRevenueOperating IncomeNet Income

CSX Revenue by Segment

Total Merchandise$2.2B−2.0%
Chemicals$680.0M−4.0%
Intermodal$562.0M+7.0%
Coal$472.0M−5.0%
Agricultural and Food Products$410.0M−1.0%
Automotive$285.0M−4.0%
Forest Products$229.0M−11.0%
Metals and Equipment$212.0M+5.0%

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