$CSX (CSX Corp.)

$CSX {{ '2016-07-26T17:38:35+0000' | timeago}} • Announcement

$CSX said it has given notice of its intention to redeem all of its outstanding Zero Coupon Convertible Debentures due Oct. 30, 2021 on Aug. 26, 2016. As of June 30, 2016, there was about $863,000 aggregate at maturity. The debentures will be redeemed at redemption price of $992 per $1,000 principal amount at maturity.

$CSX {{ '2017-10-05T22:42:14+0000' | timeago}} • Announcement

$CSX approved a $0.20 per share quarterly dividend on its common stock, payable on December 15, 2017, to shareholders of record on November 30, 2017.

$CSX {{ '2017-07-19T14:58:36+0000' | timeago}} • Webcast

$CSX said it is in the process of rebuilding the management team by filling the vacancies. The company has begun the search for experienced persons as part of the initiative.

$CSX {{ '2017-07-19T14:36:53+0000' | timeago}} • Webcast

$CSX sees significant sequential improvement in productivity in the second half of 2017. The main focus of the company in the remainder of the year would be to ensure reliability in train transit times, while taking initiatives to minimize cost and improve pricing.

$CSX {{ '2017-07-19T13:13:17+0000' | timeago}} • Webcast

Railroad company $CSX said train operations will increase sequentially in the coming quarters. The company expects to transport 30MM tonnes of commodities in the remainder of the year. The positive consumer sentiment indicates further growth in operations in 3Q17. Meanwhile, automobile shipments will be impacted by softening production.

$CSX {{ '2017-07-18T21:41:12+0000' | timeago}} • Infographic

$CSX Corp. Earnings AlphaGraphics: Q2 2017 highlights

$CSX {{ '2017-07-18T20:29:55+0000' | timeago}} • Webcast

$CSX continues to expect its EPS to grow around 25%, off the 2016-reported base of $1.81, in fiscal 2017. Operating ratio is forecast to be in the mid-60s. The company estimates its free cash flow before dividends to be around $1.5Bil during the year.  In 2Q17, the BoD authorized an additional $500MM for the current share repurchase program.

$CSX {{ '2017-07-18T20:21:24+0000' | timeago}} • Webcast

Railroad company $CSX reported a 2Q17 profit of $510MM or $0.55 per share, higher than $445MM or $0.47 per share recorded last year. Non-GAAP income, excluding restructuring charges, was $0.64 per share. Revenues advanced 8% YoY in 2Q17. The growth was driven mainly by coal-related gains, better pricing and volume, and increased fuel recovery.

$CSX {{ '2017-06-05T18:45:42+0000' | timeago}} • Announcement

$CSX shareholders elected all the 13 nominees named in the company’s proxy statement to the board of directors, and ratified the appointment of Ernst & Young as the independent accounting firm for this year. The shareholders’ meeting also approved the reimbursement arrangements sought in connection with the retention of E Hunter Harrison as CEO.

$CSX {{ '2017-04-20T15:52:09+0000' | timeago}} • Announcement

$CSX expects to realize record efficiency gains and a step-function improvement in its key financial measures given continued economic growth and stable coal markets. These are expected to drive full-year adjusted operating ratio in the mid-60s, EPS growth of around 25% off 2016 base of $1.81, and free cash flow before dividends of around $1.5Bil.

$CSX {{ '2017-04-20T15:50:22+0000' | timeago}} • Announcement

$CSX now expects to invest $2.1Bil in 2017, including about $270MM for Positive Train Control. Of the 2017 investment, more than half will be used to sustain core infrastructure with the balance allocated to projects supporting profitable growth, efficiency initiatives and service improvements.

$CSX {{ '2017-04-20T15:48:58+0000' | timeago}} • Announcement

$CSX's BoD approved a 11% increase in quarterly dividend from $0.18 to $0.20 per share, payable on June 15, 2017 to shareholders of record on May 31, 2017. The board also approved a new $1Bil share repurchase program, which management expects to complete by the end of 1Q18.

$CSX {{ '2017-04-20T14:04:31+0000' | timeago}} • Webcast

$CSX said that about the capital plan in the company, the capital investment will come down over time. The company added that there has been a good amount of spent in the last few years. Therefore, over the 3-4 year period one can see $500-600MM reduction in capital spend and at one point it will trend back up.

$CSX {{ '2017-04-20T13:41:09+0000' | timeago}} • Webcast

$CSX said that on the operating margin improvement, the company looks at structural cost reductions. From an incremental margin perspective, the company is off to a good start with about 72% incrementals for 1Q17. Additionally, $CSX expects the incremental margins to improve throughout the year.

$CSX {{ '2017-04-19T22:06:02+0000' | timeago}} • Infographic

$CSX CSX Corp. Earnings AlphaGraphics: Q1 2017 highlights

$CSX {{ '2017-04-19T20:29:12+0000' | timeago}} • Announcement

$CSX's total Merchandise revenue grew 6% to $1.83Bil in 1Q17. In other segments, revenue from coal grew 31% to $522MM and that from Intermodal increased 7% to $434MM.

$CSX {{ '2017-04-19T20:22:55+0000' | timeago}} • Announcement

Transportation company $CSX posted 10% growth in revenue to $2.86Bil in 1Q17, reflecting volume growth across markets, core pricing gains, increased fuel recovery, and favorable mix. Net income was $362MM, or $0.39 per share, up from $356MM, or $0.37 per share, in 1Q16.  Excluding a $173MM restructuring charge in the quarter, EPS was $0.51.

$CSX {{ '2017-03-07T14:13:20+0000' | timeago}} • Announcement

$CSX reached an agreement with Mantle Ridge LP, an investment firm, to reconstitute the company’s board of directors. CSX named five new directors effective immediately - E. Hunter Harrison, Paul Hilal, Dennis Reilley, Linda Riefler and John Zillmer. Presiding Director Edward J. Kelly, III will become board chairman and Mr. Hilal will become VC.

$CSX {{ '2017-03-07T14:06:26+0000' | timeago}} • Announcement

$CSX named E. Hunter Harrison as new CEO, effective immediately. Mr. Harrison replaces Michael Ward, who announced his decision to retire as Chairman and CEO on Feb 21, 2017 and become a consultant to CSX. Mr. Harrison’s separation from his old firm $CP to join CSX includes his forfeiture of $84MM in compensation, benefits.

$CSX {{ '2017-02-21T16:20:39+0000' | timeago}} • Announcement

$CSX stated that the appointment of Fredrik Eliasson as President will not affect any discussions the company may continue to have with Mantle Ridge, which holds 4.9% stake in the company. Earlier, Mantle Ridge wanted Hunter Harrison, the former CEO of Canadian Pacific Railway, to be appointed as $CSX's CEO.

$CSX {{ '2017-02-21T16:05:55+0000' | timeago}} • Announcement

$CSX said its CMO Fredrik Eliasson has been appointed as its President, effective February 15, 2017. The company’s CEO Michael Ward and President Clarence Gooden will both retire effective May 31, 2017. Eliasson will maintain his current responsibilities in his new position.

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