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CSXCSX has reported full-year earnings of $3.33 billion, or $4.17 per share, versus $3.31 billion, or $3.84 per share in 2018, an increase of 1% and 9%, respectively. CSX’s full year 2019 operating ratio of 58.4 percent represents a new U.S. Class I railroad record, improving upon last year’s record result of 60.3 percent.

“The railroad has never run better and we are delivering great service to our customers,” said James M. Foote, president and chief executive officer. “What is really amazing is how our employees stepped up to produce efficiencies during tough economic conditions.”

Revenue for the fourth quarter decreased 8 percent versus prior year to $2.89 billion due to lower volumes and negative mix from coal market headwinds. Expenses decreased 9 percent year over year to $1.73 billion, driven by continued efficiency gains and volume-related savings. Operating income was down 8 percent to $1.15 billion compared to the same period last year.

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