![\"CSX](\"https:\/\/www.newsbeep.com\/us-fl\/wp-content\/uploads\/2026\/04\/Steve_Angel_CSX_CEO_CSX_Townhall_HQ_100125-53616_t850.jpg\" "\\"CSX")
<\/p>\nAfter weak freight trends reduced earnings last year, CSX Corp. rebounded in the first quarter of 2026 and expects revenue growth to pick up the rest of the year.<\/p>\n
The Jacksonville-based railroad company reported first-quarter revenue rose 2% to $3.48 billion and earnings jumped 25% to $807 million, or 43 cents a share.<\/p>\n
\u201cThis represents an encouraging first step toward our goal of best-in-class performance,\u201d CEO Steve Angel said in an April 22 conference call with analysts.\u00a0<\/p>\n
\u201cAt the same time, we recognize that we\u2019re still early in the process, and market conditions remain uncertain,\u201d he said.<\/p>\n
<\/p>\n
CSX CEO Steve Angel hosted a town hall to introduce himself to employees Oct. 1, two days after CSX announced he would succeed Joe Hinrichs.<\/p>\n
CSX<\/p>\n
Although earnings were higher than the first quarter of 2025, they were lower than the $880 million earned in the first quarter of 2024.<\/p>\n
Besides an increase in revenue, CSX officials said lower costs are increasing earnings as the company\u2019s operations become more efficient.<\/p>\n
\u201cOur team is responding to customer needs by expanding our service offerings, improving transit times, and converting freight from truck to rail. We\u2019re also moving forward on a wide range of cost initiatives as we push to develop the productivity muscle required to sustain performance over the long term,\u201d Angel said.<\/p>\n
The cost initiatives include job cuts.<\/p>\n
\u201cLabor costs were 1% lower, as a 5% reduction in head count paired with a $10 million reduction in overtime expense offset inflation,\u201d said Kevin Boone, executive vice president and chief financial officer.<\/p>\n
![\"Mike](\"https:\/\/www.newsbeep.com\/us-fl\/wp-content\/uploads\/2026\/04\/Kevin_Boone_CSX_t850.jpg\" "\\"Mike")
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Mike Boone<\/p>\n
CSX, which operates throughout the eastern U.S., had 22,249 employees at the end of the first quarter, down 1,165 from the previous year.<\/p>\n
Under Angel, who replaced Joe Hinrichs as CEO in September 2025, CSX also is focusing on industrial development initiatives to increase freight traffic.<\/p>\n
\u201cOur team is positioning CSX rail as a compelling solution for new and expanding manufacturing facilities,\u201d said Maryclare Kenney, senior vice president and chief commercial officer.<\/p>\n
\u201cTwenty-one projects went into service over the first quarter alone, which should contribute an estimated 33,000 annual carloads at full ramp. For the full year, we expect approximately 100 projects to enter service,\u201d she said.<\/p>\n
Kenney cited two Northeast Florida projects as examples of the program.<\/p>\n
\u201cWe worked with Keystone Terminals, a bulk commodity terminal in Jacksonville, Florida, to develop a new rail extension enabling synthetic gypsum shipments to move on our network,\u201d she said.<\/p>\n
\u201cMartin Marietta expanded a rail-served aggregate loading facility in Green Cove Springs, Florida, with new rail infrastructure. With strong demand in this market, this facility is expected to reach full ramp by the end of 2Q.\u201d<\/p>\n
![\"Maryclare](\"https:\/\/www.newsbeep.com\/us-fl\/wp-content\/uploads\/2026\/04\/Kenney_t850.png\" "\\"Maryclare")
<\/p>\n
Maryclare Kenney<\/p>\n
Angel expressed optimism about revenue trends for the rest of the year, but there are concerns.<\/p>\n
\u201cConflict in the Middle East and rising energy prices are creating opportunities for some of our customers, but this has also added to broader concerns about inflationary pressure and potential effects on consumer sentiment,\u201d he said.<\/p>\n
CSX increased its revenue growth forecast for the year from a low single-digit percentage gain to a mid-single digit increase. Fuel surcharges as costs rise would contribute to the revenue increase.<\/p>\n
\u201cAs you know, higher fuel increases our revenue and our expenses, which can pressure reported margin,\u201d he said.<\/p>\n
But CSX is projecting its operating profit margin to increase by 2 to 3 percentage points, Angel said.<\/p>\n
CSX\u2019s earnings per share in the first quarter were 4 cents higher than the average analyst\u2019s forecast, according to Yahoo Finance.<\/p>\n
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