CSX (CSX) Q4 FY25 earnings call

CSX navigated a challenging demand environment in Q4 FY25 with modest volume growth and revenue decline, while taking significant steps to optimize its cost structure. The company delivered strong operational performance and safety improvements, positioning itself for future margin expansion and free cash flow growth despite a soft macroeconomic outlook for 2026. Management also replaced prior multi-year targets with a 2026-specific guidance.