CSX Corp. announces second quarter 2025 results

CSX Corp. announced second quarter 2025 operating income of $1.28 billion compared to $1.45 billion in the prior year period. Net income was $829 million, or $0.44 per diluted share, compared to $963 million, or $0.49 per diluted share, in the same period last year. Total volume of 1.58 million units for the quarter was flat compared to second quarter 2024 and up 4% sequentially.

“The skill and commitment of CSX’s railroaders enabled us to deliver significant sequential improvements in network fluidity and cost efficiency that are apparent in our financial results,” said Joe Hinrichs, president and chief executive officer. “While uncertainty continues to impact select industrial markets, we remain focused on completing two major infrastructure projects that will strengthen our position to execute on many profitable growth opportunities ahead.”

Second quarter financial highlights

Revenue totaled $3.57 billion for the quarter, decreasing 3% year-over-year, as the effects of lower export coal prices, reduced fuel surcharge, and a decline in merchandise volume were only partially offset by higher merchandise pricing, an increase in other revenue, and growth in intermodal volume.

Operating income of $1.28 billion decreased 11% compared to the same period in 2024. CSX’s operating margin was 35.9% for the quarter, decreasing by 320 basis points year-over-year but increasing by 550 basis points sequentially.

EPS of $0.44 decreased 10% compared to the prior year while increasing 29% from the previous quarter.

CSX executives will conduct a conference call with the investment community this afternoon, July 23, at 4:30 p.m. Eastern Time. Investors, media and the public may listen to the conference call by dialing 1-888-510-2008. For callers outside the U.S., dial 1-646-960-0306. Participants should dial in 10 minutes prior to the call and enter 3368220 as the passcode.