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Strike Aviation Group

Strike Aviation Group

 

Ai Logistics Network

 

CSX double stackCSX Corp. (NASDAQ: CSX) today announced fourth quarter 2022 operating income of $1.46 billion compared to $1.37 billion in fourth quarter 2021.

Net earnings of $1.02 billion, or $0.49 per share, compared to $934 million, or $0.42 per share, in the same period last year.

For the full year 2022, CSX operating income of $6.0 billion was up 8% from the previous year and included $144 million in gains from property sales recognized from the 2021 agreement with the Commonwealth of Virginia. Full year 2021 operating income included $349 million in gains from this same transaction. Net earnings for the year of $4.17 billion, or $1.95 per share, compared to $3.78 billion, or $1.68 per share, in 2021.

“The ONE CSX team made great progress this quarter, delivering strong earnings as our network performance continued to gain momentum,” said Joe Hinrichs, president and chief executive officer. “With the right resources now coming into place, we can turn our full attention to the opportunities ahead in 2023 and beyond. Going into the new year, our entire company remains focused on providing exceptional customer service that will enable us to win share from trucks and drive profitable growth over the long term.”

Fourth Quarter Financial Highlights: Revenue reached $3.73 billion, increasing 9% year-over-year, driven by higher fuel surcharge, pricing gains, and an increase in storage and other revenues. Severe winter weather in late December modestly reduced volumes and revenue for the quarter; Operating income of $1.46 billion increased 7% compared to the prior year, with an operating ratio of 60.9%; Diluted EPS of $0.49 increased 17% from $0.42 for the fourth quarter of 2021.

Full Year 2022 Financial Highlights: Revenue reached $14.9 billion for the year, increasing 19% compared to the full year 2021.

Operating income of $6.0 billion increased 8% year-over-year, including the effect of lower gains from the Virginia property sale. Operating ratio was 59.5% for the year.
Diluted EPS of $1.95 increased 16% from $1.68 for the full year 2021.

CSX executives will conduct a conference call with the investment community this afternoon, January 25, 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 in 3368220 as the passcode.

CSAFE Global

 

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