CSX 2019: 58.4% OR
CSX—the first U.S. Class I to report fourth-quarter and full-year financials—reached an all-time-low operating ratio of 58.4% for full-year 2019.
CSX
CSX’s TIP Aims to Improve Rail Safety Tech
CSX’s first Train Inspection Portal (TIP), southeast of Waycross, Ga., aims to usher in a new era of railroad safety technology.
Wall to Serve as CSX VP Labor Relations
CSX Corp. recently appointed Jeffrey D. Wall as Vice President of Labor Relations.
Henderson Bypass Receives CSX Select Site Designation
CSX has designated the Henderson Bypass Rail Site in Henderson, Ky., as a CSX Select Site, a “development-ready property along the CSX network where standard land use considerations and comprehensive due diligence items have been previously addressed … able to meet the needs of a wide variety of manufacturers, significantly reducing the time required to construct facilities and ultimately bring products to market.”
CSX’s Zacker Receives Environmental Award
CSX Environmental Field Services Senior Manager Brian M. Zacker received the 2019 North American Environmental Employee Excellence Award from the Association of American Railroads (AAR), the “highest honor for industry environmental professionals.”
CSX Uncovers Trip Plan Compliance
CSX is taking a bold transparency move. In releasing its Trip Plan Compliance performance information, it is also at the early stages of disclosing how poor logistics delivery to customers has been in the past. But, to correct and improve, it is necessary to admit the depth of the service challenge. That’s a good thing.
CSX Sets Operating Ratio Record in 3Q19
CSX announced 3Q19 net earnings of $856 million, or $1.08 per share, versus $894 million, or $1.05 per share in the same period last year—an EPS increase of 3%. CSX’s operating ratio set a new company record of 56.8%, improved from 58.7% in the prior year.
Sales and Marketing Restructuring at CSX
CSX has made several changes in its sales and marketing leadership team, promoting Farrukh Bezar to Senior Vice President Marketing and Arthur Adams to Vice President Merchandise Sales. Vice President Industrial Products Dean Piacente and Vice President Food and Agricultural Products Tim McNulty are retiring following more than 30 years of service.
CSX: Changes at the Top
CSX has appointed Kevin Boone as Executive Vice President and Chief Financial Officer and Jamie Boychuk as Executive Vice President Operations. Ed Harris, who previously led the Operations function, will continue as Executive Vice President Operations with a combination of operating and general executive responsibilities.
CN to acquire CSX line in New York
Canadian National announced the signing of an agreement that will see CN acquire the Massena rail line from CSX, which represents more than 220 miles of track between Valleyfield (Quebec), in Canada, and Woodard (New York), in the U.S. The Massena rail line also serves many cities in the province of Quebec, including Beauharnois and Huntingdon, and in the state of New York, including Massena, Norwood, Potsdam, and Gouverneur.