Quality Carriers

CSX on July 20 reported that it would continue to increase its transportation headcount “to restore service and capture increasing rail volume” in 2022. It will also maintain its full-year capex target of some $2 billion. (Photograph Courtesy of CSX)

For 2022, CSX Targeting ‘Double-Digit’ Revenue, Operating Income Growth (UPDATED, Cowen)

“Though volatile commodity prices and persistent inflation have added uncertainty to the economy, our efforts remain focused on adding the resources needed to deliver improvements in our network performance, lift customer satisfaction and develop new rail service solutions to drive meaningful growth over the long term,” reported James M. Foote, President and CEO of CSX, during the Class I railroad’s July 20 release of second-quarter 2022 financials, which included net earnings and volumes that were flat with the previous-year period.

CSX and subsidiary Quality Carriers employees recently assembled 5,000 care packages for U.S. troops stationed in Eastern Europe, who have been mobilized in response to the conflict in Ukraine. (Photograph Courtesy of CSX)

ESG Briefs: CN/CP, CSX, OmniTRAX

CN and Canadian Pacific (CP) have earned spots on the Best 50 Corporate Citizens in Canada list for 2022. Also, care packages from CSX, in partnership with Operation Gratitude, are headed to U.S. active-duty service members in Eastern Europe; and Newburgh & South Shore Railroad (NSR), a managed affiliate of OmniTRAX, presented a community donation to a Cleveland, Ohio-area fire department in honor of Charter Steel.

“As we enter 2022, we remain committed to providing our customers high-quality service and creating additional capacity to help them address current supply chain challenges through the increased use of rail,” CSX President and CEO James M. Foote said during a Jan. 20 earnings announcement.

CSX 4Q21: Revenue, Earnings, OR Up (UPDATED)

CSX was the second Class I railroad to report fourth-quarter 2021 financial results on Jan. 20; it posted net earnings of $934 million (or $0.42 per share), a 22% boost from the prior-year period’s $760 million (or $0.33 per share).

CSX Building Bulk Chem Transport Business

CSX reported May 12 that it will acquire Tampa, Fla.-based trucking company Quality Carriers, Inc., to create an “integrated multimodal chemical transportation solution” for producers and shippers.