Q4 2024 CSX Corp Earnings Call Transcript
Key Points
- CSX Corp (CSX) achieved 2% volume growth for the year, outpacing the industrial economy.
- The company delivered strong, consistent customer service, leading to a high Net Promoter Score.
- CSX Corp (CSX) led the rail industry in reaching early agreements with labor unions on 5-year contracts.
- Operational improvements resulted in significant fuel efficiency gains, saving millions of dollars.
- The Howard Street Tunnel project is expected to be completed much faster than originally planned, enhancing future operational capabilities.
- Quarterly revenue declined by 4% due to lower global coal prices and a decline in fuel surcharge.
- Earnings per share declined 7% on an adjusted basis, excluding goodwill impairment effects.
- The company faced substantial headwinds from hurricanes and lower commodity prices, impacting financial performance.
- Coal revenue declined 20% for the quarter due to reduced global benchmark pricing and production issues.
- The Blue Ridge and Howard Street Tunnel projects will add significant expenses throughout the year.
Ladies and gentlemen, thank you for standing by. My name is Abby and I'll be your conference operator today.
(Operator Instructions)
Thank you. And I would now like to turn the conference over to Matthew Corn, Head of Investor relations and strategy. You may begin.
Thank you Abby, Hello, everyone, and good afternoon. Welcome to our fourth quarter earnings call. Joining me on the call today are Joe Hinrichs, President and Chief Executive Officer; Mike Cory, Executive Vice President and Chief Operating Officer; Kevin Boone, Executive Vice President and Chief Commercial Officer; and Sean Pelkey, Executive Vice President and Chief Financial Officer.
In the presentation accompanying this call, which is available on our website, you will find slides with our forward-looking disclosures and our non-GAAP disclosures for your review.
With that, it is now my pleasure to introduce Mr. Joe Hinrichs.
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