CSX Archives - The Loadstar Making sense of the supply chain Thu, 31 Oct 2024 11:29:07 +0000 en-US hourly 1 https://wordpress.org/?v=6.6.2 31889032 US logistics players expand to boost their cross-border reach into Mexico https://theloadstar.com/us-logistics-players-expand-to-boost-their-cross-border-reach-into-mexico/ https://theloadstar.com/us-logistics-players-expand-to-boost-their-cross-border-reach-into-mexico/#respond Thu, 31 Oct 2024 11:29:07 +0000 https://theloadstar.com/?p=283861 US surface logistics providers are expanding their reach across the southern border.
Class I rail carriers CPKC and CSX are poised to open a new rail link connecting the US south-east with Mexico, while Uber Freight has beefed up its presence in Mexico.
Others are building their footprint at the Laredo gateway, which regained the crown of largest US import gateway in August, on the strength of a trade volume worth $30.7bn.
CPKC ...

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]]> https://theloadstar.com/us-logistics-players-expand-to-boost-their-cross-border-reach-into-mexico/feed/ 0 283861 UP steams ahead of its N American intermodal rivals in Q3 https://theloadstar.com/up-steams-ahead-of-its-n-american-intermodal-rivals-in-q3/ https://theloadstar.com/up-steams-ahead-of-its-n-american-intermodal-rivals-in-q3/#respond Mon, 28 Oct 2024 13:03:36 +0000 https://theloadstar.com/?p=283603 Union Pacific (UP) has the most to crow about among North America’s intermodal Q3 results, being the only carrier to report increased volumes and revenue.
Over the three months to October, UP experienced a 12% year-on-year revenue bump, to $1.24bn, despite revenue per unit (RPU) declining 6%, to $1,365. Volumes surged 19%, to more than 909,000 teu, driven by strong international demand.
CEO Jim Vine told investors it was “another really good ...

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]]> https://theloadstar.com/up-steams-ahead-of-its-n-american-intermodal-rivals-in-q3/feed/ 0 283603 SEC investigates CSX’s accounting https://theloadstar.com/sec-investigates-csxs-accounting/ https://theloadstar.com/sec-investigates-csxs-accounting/#respond Thu, 17 Oct 2024 17:29:14 +0000 https://theloadstar.com/?p=282974 US railroad CSX disclosed today in a 10-Q filing lodged with the Securities and Exchange Commission (SEC) that earlier this month it received a subpoena* from the enforcement division of the SEC “requesting information relating to, among other things, the accounting restatement disclosed in the Company’s August 5, 2024 10-Q”.
(*Earlier this summer, it made the headlines as it delayed its quarterly earnings “report due to [a] review of [the] prior ...

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]]> https://theloadstar.com/sec-investigates-csxs-accounting/feed/ 0 282974 Snapshot: How battered railroad CSX thinks about… trucking upside into 2025 https://theloadstar.com/snapshot-how-battered-railroad-csx-thinks-about-trucking-upside-into-2025/ https://theloadstar.com/snapshot-how-battered-railroad-csx-thinks-about-trucking-upside-into-2025/#respond Thu, 17 Oct 2024 11:40:03 +0000 https://theloadstar.com/?p=282862 US railroad CSX released its quarterly numbers after the US market close yesterday, 16 October and what, curiously, made the headlines was a Q3 24 performance that fell short of “earnings expectations amid soft trucking environment“.
That factor was also mentioned by $69bn-market-cap CSX in its investor pack, where the firm noted that a weak trucking market is set to remain a near-term challenge.
In one investor forum on Seeking Alpha, that ...

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]]> https://theloadstar.com/snapshot-how-battered-railroad-csx-thinks-about-trucking-upside-into-2025/feed/ 0 282862 US east coast carriers and rail operators introduce pre-strike restrictions https://theloadstar.com/us-east-coast-carriers-and-rail-operators-introduce-pre-strike-restrictions/ https://theloadstar.com/us-east-coast-carriers-and-rail-operators-introduce-pre-strike-restrictions/#respond Wed, 25 Sep 2024 11:16:02 +0000 https://theloadstar.com/?p=281110 With just a week before an increasingly probable US east and Gulf coast port strike, carriers have been laying out contingency plans, including pre-emptively halting inland cargo movement and congestion-related surcharges.
Maersk said it would implement a ‘local port disruption surcharge’ for all cargo moving to and from the US east and Gulf coast terminals from 21 October, “depending on the impact of the disruption to the supply chain”, of $1,500 ...

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]]> https://theloadstar.com/us-east-coast-carriers-and-rail-operators-introduce-pre-strike-restrictions/feed/ 0 281110 Intermodal ups and downs in a mixed first half for North American railroads https://theloadstar.com/intermodal-ups-and-downs-in-a-mixed-first-half-for-north-american-railroads/ https://theloadstar.com/intermodal-ups-and-downs-in-a-mixed-first-half-for-north-american-railroads/#respond Tue, 06 Aug 2024 12:25:22 +0000 https://theloadstar.com/?p=278084 North America’s intermodal operators experienced something of a mixed bag over the three months to June, with CSX the only one to claim the double of quarterly and first-half growth.
The last to release its result, CSX nonetheless offered the brightest picture for the region’s intermodal services, with Q2 revenues up 3%, to $506m, as it announced a first-half increase of 2% year on year on revenues of a little over ...

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]]> https://theloadstar.com/intermodal-ups-and-downs-in-a-mixed-first-half-for-north-american-railroads/feed/ 0 278084 CSX – at a fork in the (rail)road? https://theloadstar.com/csx-at-a-fork-in-the-railroad/ https://theloadstar.com/csx-at-a-fork-in-the-railroad/#respond Tue, 06 Aug 2024 11:49:27 +0000 https://theloadstar.com/?p=278019 A defensive CSX management team was mildly tested by equity analysts after a sinking US market closed yesterday, 5 August, but there was little in the Jacksonville-based railroad’s Q2 24 numbers to make us all feel cheerful about its prospects.
(Or those of trucking and intermodal, for that matter.)
Flattish revenues and earnings* were spotted on a comparable Q2 24 vs Q2 23 basis, although sequential improvement from Q1 24 was highlighted ...

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]]> https://theloadstar.com/csx-at-a-fork-in-the-railroad/feed/ 0 278019 In Memoriam of Jim Foote https://theloadstar.com/in-memoriam-of-jim-foote/ https://theloadstar.com/in-memoriam-of-jim-foote/#respond Wed, 17 Apr 2024 14:57:05 +0000 https://theloadstar.com/?p=269737 PRESS RELEASE
April 17, 2024 – CSX is sad to share the news that Jim Foote, who served as our President and CEO from December 2017 until September 2022, has passed away. Jim’s impact on CSX and the railroad industry at large was significant, spanning over four decades of dedicated service.
 
“Jim’s leadership was instrumental in guiding CSX through a transformational period in our company’s history, advancing CSX to new heights, marked ...

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]]> https://theloadstar.com/in-memoriam-of-jim-foote/feed/ 0 269737 Sniping starts as battle for control of Norfolk Southern Railway heats up https://theloadstar.com/sniping-starts-as-battle-for-control-of-norfolk-southern-railway-heats-up/ https://theloadstar.com/sniping-starts-as-battle-for-control-of-norfolk-southern-railway-heats-up/#respond Fri, 12 Apr 2024 11:13:36 +0000 https://theloadstar.com/?p=269275 Norfolk Southern Railway’s (NS) management and activist investor Ancora Holdings, trying to oust it, are sniping at each other via public statements and letters to shareholders in the run-up to the annual meeting on 9 May.
In early February, Ancora, which has amassed about $229m in NS shares, proposed seven candidates for the board from its own ranks, including replacements for CEO Alan Shaw and COO John Orr, claiming this could ...

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]]> https://theloadstar.com/sniping-starts-as-battle-for-control-of-norfolk-southern-railway-heats-up/feed/ 0 269275 Ancora launches boardroom bid for control of NS rail operations https://theloadstar.com/ancora-launches-boardroom-bid-for-control-of-ns-rail-operations/ https://theloadstar.com/ancora-launches-boardroom-bid-for-control-of-ns-rail-operations/#comments Wed, 21 Feb 2024 11:55:30 +0000 https://theloadstar.com/?p=265640 Investor group Ancora Holdings has stepped up its drive to oust Norfolk Southern Railway’s (NS) leadership.
Less than a month after taking a $1bn stake in the Class I rail carrier, Ancora has proposed eight candidates for the NS board from its own ranks to replace CEO Alan Shaw and others.
Ancora claimed its own leadership could drive up the NS share price by about 65%, to $420.
The group revealed its challenge ...

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