CSX said operating income for Q2 2025 was $1.3 billion, down $165 million or 11% year over year, and operating margin was 35.9%, down 320 basis points. Earnings per diluted share were $0.44, down $0.05 or 10% year over year.

10-QQuarterly reportFiled Jul 23, 2025Period of report Jun 30, 2025Summary published (UTC) Oct 11, 2026

Key points

AI summary

CSX said operating income for Q2 2025 was $1.3 billion, down $165 million or 11% year over year, and operating margin was 35.9%, down 320 basis points. Earnings per diluted share were $0.44, down $0.05 or 10% year over year.
The company said total revenue for Q2 2025 decreased 3% compared to the prior year, citing decreases in export coal revenue, including the impact of lower benchmark rates, as well as lower fuel recovery and declines in merchandise volume. It added that higher pricing in merchandise and increases in other revenue partially offset these declines.
CSX said cash generated from operating activities for the 6 months ended June 30, 2025 was $283 million less than the prior year, and cash used for investing activities was $406 million more. The company said the increase in investing activities included approximately $295 million in incremental property additions related to rebuilding the Blue Ridge subdivision as a result of impacts from Hurricane Helene.
CSX issued $600 million of long-term debt during the 6 months of 2025, the company said, and had a net commercial paper issuance of $75 million. It also executed share repurchases of $1.2 billion and paid dividends of $488 million. Cash, cash equivalents and short-term investments at the end of Q2 were $393 million.

Key figures

Quarter ended June 30, 2025

Revenue: $3.6B
Operating income: $1.3B
Net income: $829M
EPS: $0.44

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

Analysis scope · Management's discussion (MD&A)We analyzed the Management's Discussion and Analysis (MD&A) section. Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

Q2 Operating Income $1.3 billion, Operating Margin 35.9%

CSX said operating income for Q2 2025 was $1.3 billion, down $165 million or 11% year over year, and operating margin was 35.9%, down 320 basis points. Earnings per diluted share were $0.44, down $0.05 or 10% year over year.

Source · Based on the MD&A text of the filing

Q2 Total Revenue Down 3% and Company's Cited Factors

The company said total revenue for Q2 2025 decreased 3% compared to the prior year, citing decreases in export coal revenue, including the impact of lower benchmark rates, as well as lower fuel recovery and declines in merchandise volume. It added that higher pricing in merchandise and increases in other revenue partially offset these declines.

Source · Based on the MD&A text of the filing

6-Month Cash Flow and Blue Ridge Rebuild Investment

CSX said cash generated from operating activities for the 6 months ended June 30, 2025 was $283 million less than the prior year, and cash used for investing activities was $406 million more. The company said the increase in investing activities included approximately $295 million in incremental property additions related to rebuilding the Blue Ridge subdivision as a result of impacts from Hurricane Helene.

Source · Based on the MD&A text of the filing

6-Month Debt Issuance, Share Repurchases and Liquidity

CSX issued $600 million of long-term debt during the 6 months of 2025, the company said, and had a net commercial paper issuance of $75 million. It also executed share repurchases of $1.2 billion and paid dividends of $488 million. Cash, cash equivalents and short-term investments at the end of Q2 were $393 million.

Source · Based on the MD&A text of the filing

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

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