CSX Corp

CSX: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$86.00	Dpgnt	Vxtnrzbb

CSX Earnings: Lots of Cross Currents in the Quarter, but Second-Half Margin Outlook Favorable

Matthew Young

Aug 6, 2024

Eastern Class I railroad CSX's second-quarter revenue came in roughly flat year over year, as merchandise and international-intermodal volume growth offset a falloff in coal shipments and lower benchmark coal pricing, which pressured yield (revenue per carload). Revenue came in modestly below our anticipated run rate due to worse-than-expected coal yields. That said, merchandise carload core pricing remains favorable and second-half revenue and volume guidance is tracking in line to slightly better than our expectations.

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