By William C. Vantuono, Editor-in-Chief, Railway Age Magazine; April 18, 2018
CSX on April 17 posted record earnings and an all-time low operating ratio—based almost entirely on cost-cutting measures, headcount reductions, rate increases and stock buybacks, not volume growth.
CSX first-quarter 2018 net earnings of $695 million, or $0.78 per share, were substantially higher than the $362 million, or $0.39 per share, in the same period last year. The operating ratio for the quarter improved 950 basis points to 63.7% from 73.2% in the prior year.
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