- CSX’s Earnings Per Share (EPS) for Q2 2024 was $0.49, meeting last year’s EPS and surpassing the estimate of $0.48.
- Revenue for Q2 2024 amounted to $3.70 billion, consistent with the previous year and in line with estimates.
- Fuel costs were $301 million, a 3.5% decrease from last year and lower than the estimated $317.6 million.
- Purchased services and other expenses increased by 2.2% year-over-year (y/y), totalling $699 million, which slightly surpassed the estimate of $694.3 million.
- Operating income stood at $1.45 billion, a 2.2% drop y/y, but ahead of the $1.41 billion estimate.
- Total carloads were 1.58 million, a 2.1% rise y/y, beating the 1.57 million estimate.
- Intermodal volume reached 716,000, up by 4.7% y/y and above the 714,248 estimate.
- Merchandise revenue came in at $2.30 billion, a 4.6% increase y/y, surpassing the $2.28 billion estimate.
- Agricultural and Food Products revenue saw a slight decline of 2.2% y/y, reaching $406 million, below the $416.7 million estimate.
- Chemicals revenue surged by 12% y/y to $722 million, beating the $698.4 million estimate.
- Automotive revenue climbed 4% y/y to $336 million, exceeding the $326.8 million estimate.
- Minerals revenue increased by 8.4% y/y to $207 million, above the $197.8 million estimate.
- Forest Products revenue was $269 million, a 4.7% rise y/y, surpassing the predicted $264.9 million.
- Metals and Equipment revenue fell by 4.2% y/y to $230 million, close to the $229 million estimate.
- Fertilizers revenue decreased by 1.6% y/y, totalling $126 million, missing the $137.9 million estimate.
- Intermodal revenue was $506 million, a 2.8% increase y/y, but below the $515.2 million estimate.
- Coal revenue dropped by 12% y/y to $563 million, slightly less than the $565.1 million estimate.
- Trucking Revenue declined by 2.6% y/y to $221 million, narrowly surpassing the $220.5 million estimate.
- Average revenue per carload was $2,345, a 2% decline y/y, in line with the estimate of $2,341.
- Revenue ton-miles totalled 48.7 billion, edging up by 0.4% y/y, close to the 48.89 billion estimate.
- Gross ton miles reached 96.8 billion, a 1.1% increase y/y, slightly below the 97.09 billion estimate.
- CEO Joe Hinrichs commented that “CSX is well-positioned to achieve solid year-over-year margin expansion over the remainder of 2024.”
- Analyst recommendations were: 18 buys, 9 holds, and 0 sells.
Csx Corp on Smartkarma
On Smartkarma, the independent investment research network, analysts from Baptista Research have been actively covering CSX Corporation. In one of their reports titled “CSX Corporation: How They Are Looking To Expand Their Business Through Strategic Partnerships and Network Collaboration! – Major Drivers,” the analysts discussed the company’s mixed financial results for the first quarter of 2024. Despite facing challenges such as severe weather and infrastructure disruptions, CSX showed solid operational performance with a 3% increase in total volume, driven by a 7% growth in its Intermodal business. However, revenue slightly declined by approximately 1% year over year, influenced by lower fuel surcharges and changes in mix.
In another report by Baptista Research titled “CSX Corporation: Will Its Investments In Industrial Development Projects Yield Dividends? – Major Drivers,” the analysts highlighted how CSX Corporation had a solid start to 2024 despite facing challenges like severe weather and bridge collapses. The company managed to maintain momentum in volume performance and demonstrated a commitment from management to mitigate the impact of these challenges for its customers. Overall, the analysts seem to have a positive sentiment about CSX Corporation’s strategies and performance amid these obstacles.
A look at Csx Corp Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 2 | |
| Dividend | 3 | |
| Growth | 4 | |
| Resilience | 2 | |
| Momentum | 3 | |
| OVERALL SMART SCORE | 2.8 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
An analysis of the Smartkarma Smart Scores for Csx Corp reveals a mixed long-term outlook for the company. While Csx Corp scores moderately well in areas of Growth and Dividend, indicating promising prospects for expansion and investor returns, its Value and Resilience scores are lower, suggesting potential concerns in terms of stock valuation and stability. Momentum for Csx Corp is rated at a moderate level, showing some positive market sentiment and performance.
CSX Corporation, an international freight transportation company, offers rail, intermodal, domestic container-shipping, barging, and contract logistics services globally, with a focus on rail transportation in the eastern United States. The company’s Smartkarma Smart Scores reflect a varying landscape of strengths and weaknesses across different aspects, highlighting a nuanced assessment of its overall performance outlook in the market.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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