CSX Corporation (CSX) Q3 2025 Financial Results Summary
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CSX Corp. (CSX) Q3 2025 Financial Results Summary
CSX Corp. (NASDAQ: CSX) announced its third quarter financial results on October 16, 2025. Below is a summary of the key financial metrics and operational highlights from the report.
Financial Highlights
- Operating Income:
- Q3 2025: $1.09 billion
- Q3 2024: $1.35 billion
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Decrease of 19% year-over-year.
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Net Earnings:
- Q3 2025: $694 million
- Q3 2024: $894 million
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Decrease of 22% year-over-year.
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Earnings Per Share (EPS):
- Q3 2025: $0.37
- Q3 2024: $0.46
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Decrease of 20% year-over-year.
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Adjusted Operating Income (excluding non-cash goodwill impairment):
- Q3 2025: $1.25 billion
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Adjusted for goodwill impairment of $164 million this quarter.
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Adjusted Net Earnings (excluding goodwill impairment):
- Q3 2025: $818 million
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Adjusted EPS: $0.44.
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Adjusted Operating Margin:
- Q3 2025: 34.9%
- A decline from 40% in Q3 2024.
Operational Highlights
- Volume:
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Total volume for the quarter was 1.61 million units, showing a 1% increase compared to Q3 2024 and a 2% increase sequentially.
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Revenue:
- Total revenue for Q3 2025 was $3.59 billion, representing a 1% decrease year-over-year attributed to lower export coal prices and a decline in merchandise volume, despite growth in intermodal volumes and other revenue increases.
Other Details
- Goodwill Impairment:
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There was a non-cash goodwill impairment of $164 million recorded in this quarter, leading to adjustments in reported income and EPS.
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Corporate Restructuring Expenses:
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Included $35 million in restructuring, severance, and advisory expenses, impacting adjusted results.
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Dividend and Share Repurchase:
- The report does not mention any declared quarterly dividend or share repurchase during this quarter.
Management Commentary
Steve Angel, President and CEO of CSX Corp., emphasized the commitment of the workforce and operational strength. He highlighted that “this quarter’s operational performance reflects the dedication of our workforce” and expressed confidence in leveraging operational strength for long-term profitable growth.
Conference Call Information
CSX executives hosted a conference call with investors on October 16, 2025, at 4:30 PM ET to discuss the results further. Interested participants could join via dial-in or through a webcast available on the company’s website.
Conclusion
CSX Corp. reported decreased earnings and revenues for Q3 2025 compared to the same quarter last year, mainly influenced by external market conditions. However, the company noted positive operational performance indicated by volume growth, suggesting potential avenues for recovery moving forward.
| Dollars in millions, except per share amounts | Operating Income | Operating Margin | Net Earnings | Net Earnings Per Share, Assuming Dilution |
|---|---|---|---|---|
| GAAP Operating Results | $ 1,087 | 30.3% | $ 694 | $ 0.37 |
| Goodwill Impairment | 164 | 4.6% | 124 | 0.07 |
| Adjusted Operating Results (Non-GAAP) | $ 1,251 | 34.9% | $ 818 | $ 0.44 |
| Assets | Liabilities and Shareholders’ Equity | ||
|---|---|---|---|
| Current Assets | Current Liabilities | ||
| Cash and Cash Equivalents | $XX | Accounts Payable | $XX |
| Accounts Receivable | $XX | Accrued Liabilities | $XX |
| Inventory | $XX | Other Current Liabilities | $XX |
| Other Current Assets | $XX | ||
| Total Current Assets | $XX | Total Current Liabilities | $XX |
| Property and Equipment | $XX | Long-term Debt | $XX |
| Goodwill | $XX | Other Liabilities | $XX |
| Other Assets | $XX | ||
| Total Assets | $XX | Total Liabilities | $XX |
| Shareholders’ Equity | |||
| Common Stock and Additional Paid-in Capital | $XX | ||
| Retained Earnings | $XX | ||
| Total Shareholders’ Equity | $XX |