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.
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 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.
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.
CSX Corporation today announced that Adam Longson, a seasoned leader with expertise in energy and transportation analytics, is joining the company’s Sales and Marketing organization as vice president of Energy effective September 9, 2019.
Alvin “Pete” Carpenter, who worked his way up from railroad brakeman to President and CEO of CSX Transportation, died Aug. 20 following a battle with cancer. He was 77.
On Oct. 7, 2019, CN and CSX will launch a new intermodal service linking CN’s greater Montreal and Southern Ontario areas with CSX-served ports in Philadelphia and New York/New Jersey.
CSX Executive Vice President Operations Ed Harris addressed his railway operating peers at the annual Association of American Railroad Superintendents conference the week of July 22. The topic was his view of Precision Scheduled Railroading (PSR). We have all seen and read about PSR multiple times. What could Harris possibly add, especially for the experienced operating men and women seated before him?
CSX Corp. (CSX) today announced a 2Q19 earnings per share increase of 7% on net earnings of $870 million, or $1.08 per share, versus $877 million, or $1.01 per share, in the same period last year. In addition, CSX’s operating ratio set a company second-quarter record of 57.4%, improved from 58.6% the prior year.
Independent freight railroad and rail services holding company RailUSA, LLC recently acquired a 430-mile rail line and related real estate from CSX Corporation (CSX). Financial terms of the deal were not disclosed.