CSX Corp. today announced fourth quarter 2024 operating income of $1.11 billion which fell compared to $1.32 billion in the prior year period.
Revenues totaled $3.54 billion for the quarter, off 4% year-over-year, as lower fuel surcharges and carbon revenue offset higher prices, merchandise volume and growth in volumes in intermodal.
Net income was $733 million, or $0.38 per diluted share, compared to $882 million, or $0.45 per diluted share, in the same period a year ago. Fourth quarter results for Jacksonville-based CSX (NASDAQ: CSX) included a non-cash aviation impairment charge of $108 million.
The total volume of 1.58 million units for the quarter was 1% higher compared to the fourth quarter of 2023.
For the full year 2024, operating income of $5.25 billion was down 5% from the previous year. Net income for the year was $3.47 billion, or $1.79 per share, compared to $3.67 billion, or $1.82 per share, in 2023.
Adjusted for the goodwill impairment charge, operating income was $1.21 billion for the quarter and $5.35 billion for the year. Adjusted net income was $815 million, or $0.42 per diluted share, for the quarter and $3.55 billion, or $1.83 per diluted share, for the full year.
“While 2024 had its challenges, I’m proud of how the ONE CSX team responded. We made it through the substantial impacts from major hurricanes and the Key Bridge outage earlier in the year and remain focused on delivering industry-leading customer satisfaction,” said Joe Hinrichs, president and CEO, in a release. “We will be disciplined in delivering security, service, and operational efficiency performance as we invest in the strength and capabilities of our network this year, and look forward to delivering on the profitable growth opportunities ahead.”
Find more articles by Stuart Chirls here.
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2025-01-24 01:08:00
