Railroad News

Rail News Home CSX Transportation 5/31/2022 Rail News: CSX Transportation
CSX announced last week its induction into the Climate Leadership Awards Hall of Fame for its commitment to increasing sustainability and lowering carbon emissions.The Class I is part of the first-ever class of 29 companies and organizations to be inducted into the CLA Hall of Fame. To earn the honor, inductees needed to receive at least two Climate Leadership Awards across multiple categories over the past decade, CSX officials said in a press release.CSX is the only railroad recognized as an honoree. The induction ceremony celebrated the Class I and other inductees at the Climate Leadership Conference in Washington, D.C., May 24-26.The Class I most recently earned a 2021 CLA for greenhouse gas (GHG) emissions reduction goal-setting. The Center for Climate and Energy Solutions (C2ES) and The Climate Registry, which presented the awards, cited CSX's goal to reduce Scope 1 and 2 emissions intensity by 37.3% from 2014 to 2029 — an absolute emissions reduction of 2.5% annually — as part of the reason for the award. CSX also earned a CLA in 2013 recognizing its 8% voluntary reduction of GHG emissions intensity since 2007."In the past decade, these companies, organizations and individuals have helped raise the bar time and again — betting on themselves to succeed," said C2ES President Nathaniel Keohane in a press release regarding the honorees.

Rail News Home CSX Transportation 5/19/2022 Rail News: CSX Transportation
CSX was named to 3BL Media's annual 100 Best Corporate Citizens ranking, which recognizes outstanding environmental, social and governance (ESG) transparency and performance among the 1,000 largest U.S. public companies.The ranking is based on 155 ESG factors across eight pillars: climate change, employee relations, environment, finance, governance, human rights, stakeholders and society and ESG performance.Using a methodology developed by 3BL Media, all Russell 1000 Index companies are researched by ISS ESG, the responsible investment research arm of Institutional Shareholder Services. There is no fee for companies to be included in 100 Best Corporate Citizens.CSX ranked 64th on the list."Having earned top 100 scores in the categories of climate change, ESG performance, governance and more, our team of transportation experts takes pride in providing excellent service to our customers while being a good neighbor by operating responsibly, generating economic opportunities and giving back to communities along CSX's network," said CSX spokesperson Sheriee Bowman in an email.The full list of 100 companies can be viewed here.

Rail News Home CSX Transportation 5/13/2022 Rail News: CSX Transportation
CSX has presented its Chemical Safety Excellence Award to 65 customers for their "outstanding contribution" to the safe transportation of hazardous materials in 2021.The awards were presented to companies that shipped at least 600 carloads of hazardous materials with CSX during the year without a hazmat release due to controllable factors.Representing a wide range of industry segments, the winning companies shipped over 185,000 carloads of hazardous materials on the Class I's network in 2021.CSX gave special recognition to global chemical company Kemira, which led all hazard materials shippers with 21 consecutive years as a CSX award winner.Also receiving special recognition were ExxonMobil Chemical Co. and Messer North America, which reached their 10-consecutive-year milestone as award winners; and Americas Styrenics, Ascend Performance Materials and Shintech, which reached five consecutive years without a nonaccidental release.The full list of award winners can be read here.

Rail News Home CSX Transportation 5/12/2022 Rail News: CSX Transportation
A rendering of the future Novelis plant, which will be served by CSX. Photo – novelis.com

Rail News Home CSX Transportation 4/21/2022 Rail News: CSX Transportation
as we moved into March, operating conditions began to gradually improve and we do see indications that this momentum is continuing," said President and CEO James Foote. Photo – csx.com

Rail News Home CSX Transportation 4/18/2022 Rail News: CSX Transportation
CSX officials expect to close on the acquisition on June 1. Photo – panamrailways.com/Ted Krug

Rail News Home CSX Transportation 3/24/2022 Rail News: CSX Transportation
CSX Corp. yesterday recommended that shareholders reject an unsolicited "mini-tender" offer by TRC Capital Investment Corp. to purchase up to 4 million shares of CSX common stock at $34.75 per share in cash.Shareholders should reject the offer because the price is 4.43% below the $36.34 closing price of CSX common stock on March 18, the last trading day before the mini-tender began, CSX officials said in a press release.The Class I is not affiliated with TRC and does not endorse its unsolicited offer, CSX officials said.The offer is also subject to a number of conditions, including TRC’s ability to secure sufficient financing to consummate the offer.CSX officials recommend that any shareholders who have tendered shares to TRC withdraw those shares by providing the written notice described in the offering documentation before the offer expires April 20."[We] urge shareholders to obtain current market quotes for their shares, to review the conditions to TRC’s mini-tender offer, to consult with their brokers or financial advisors and to exercise caution with respect to TRC’s mini-tender offer," CSX officials said.

Rail News Home CSX Transportation 10/21/2021 Rail News: CSX Transportation
CSX Corp. yesterday announced third-quarter 2021 net earnings of $968 million, or 43 cents per share, compared to $736 million, or 32 cents per share in the same period last year.CSX posted an operating ratio of 56.4% in Q3 2021 compared to 56.9% in the prior year period, CSX officials said in a press release.Revenue for quarter climbed 24% from the prior year to $3.29 billion, driven by growth across all business lines, increases in other revenue and the inclusion of Quality Carriers’ results.Operating income improved 26% to $1.44 billion for the quarter."I want to thank all of CSX’s railroaders for their continued dedication to our customers amidst the combination of ongoing supply chain disruptions and challenges presented by the COVID-19 Delta variant this quarter," said President and CEO James Foote. "We are committed to helping our customers overcome current supply chain constraints and will continue to take action in order to keep our network fluid and design new solutions that enable the delivery of critical goods to millions of Americans."