Jun 2026 (Q2 FY26) — Jul 22, 2026
CSX Q2 FY26 — Record Revenue and Strong Profit Growth Driven by Volume and Efficiency
Read the full callCSX (CSX) earnings
- Jun 2026
- Jun 2026 (Q2 FY26)
- Dec 2025
CSX earnings: last reported Wed, 22 Jul 2026, for the quarter ended Jun 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 3,935 | +10.1% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | 38.3 | +2.4 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | 1,002 | +20.9% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
Guidance
What management said, and what became of it
5 of 6 judged targets kept · 13 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Howard Street Tunnel double-stack service launch | begin capitalizing on double-stack clearance through Baltimore | Sep 2025 | Faster service and expanded network capacity enabled by the Howard Street Tunnel have positioned us well to capture this business. | Achieved |
| Full-year free cash flow growth (FY26) | at least 50% growth versus 2025 | Dec 2025 | free cash flow growth of greater than 80% | Revised Up |
| Full-year capital expenditures (FY26) | below $2.4 billion | Dec 2025 | Our outlook for capital spending remains unchanged at less than $2.4 billion. | On Track |
1 of CSX CORP's 19 targets was missed. See which ones, and which are quietly gone. The 3 above are the free sample; 16 more targets are in the full ledger.
Claimed
- Volume increased 6% year-over-year, leading to a new quarterly record for revenue.
- Total revenue increased 10% year-over-year.
- Operating income increased 17% year-over-year, with operating margins improving 240 basis points.
- Earnings per share grew 23% in the quarter.
- FRA Injury Rate improved by 19% and Trade and Accident Rate improved by 30% year-over-year.
Qualified
- Operating margins faced a 160 basis points headwind from higher fuel prices.
- An increase in Dwell time was observed due to stronger-than-expected volume growth and seasonal reductions in employee availability.
- Merchandise RPU, excluding fuel, declined 1% year-over-year due to mix effects.
- Potential for momentum to slow in Automotive and Chemicals markets in the second half of the year.
Price
$47.88 −1.64% · −$0.8
Performance +30.8% 1Y
1Y: $36.6 on 17 Oct 2025 → $47.88. High $53.23 (24 Jul 2026), low $33.68 (20 Nov 2025).
- Previous close
- $48.68
- 52-week range
- $33.68 – $53.23
- One year
- +30.57%
Overview
- Symbol
- CSX
- Sector
- Industrials
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
5 of 6 judged targets kept · 13 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Howard Street Tunnel double-stack service launch | begin capitalizing on double-stack clearance through Baltimore | Sep 2025 | Faster service and expanded network capacity enabled by the Howard Street Tunnel have positioned us well to capture this business. | Achieved |
| Full-year free cash flow growth (FY26) | at least 50% growth versus 2025 | Dec 2025 | free cash flow growth of greater than 80% | Revised Up |
| Full-year capital expenditures (FY26) | below $2.4 billion | Dec 2025 | Our outlook for capital spending remains unchanged at less than $2.4 billion. | On Track |
Claimed
- Volume increased 6% year-over-year, leading to a new quarterly record for revenue.
- Total revenue increased 10% year-over-year.
- Operating income increased 17% year-over-year, with operating margins improving 240 basis points.
- Earnings per share grew 23% in the quarter.
- FRA Injury Rate improved by 19% and Trade and Accident Rate improved by 30% year-over-year.
Qualified
- Operating margins faced a 160 basis points headwind from higher fuel prices.
- An increase in Dwell time was observed due to stronger-than-expected volume growth and seasonal reductions in employee availability.
- Merchandise RPU, excluding fuel, declined 1% year-over-year due to mix effects.
- Potential for momentum to slow in Automotive and Chemicals markets in the second half of the year.
The full ledger
Open CSX CORP’s full ledger
A free account opens 5 company ledgers a month. All 19 tracked commitments, with each call’s wording and source.
Call summaries
Mar 2026 (Q1 FY26) — Apr 22, 2026
CSX Q1 FY26 — Cost-out drives 20% operating income growth and a raised full-year outlook
Read the full callDec 2025 (Q4 FY25) — Jan 22, 2026
CSX Q4 FY25 — Cost Structure Optimization and Margin Expansion
Read the full callEvery analysed call
CSX earnings calls (CSX)
Financials
What the filings say
Net profit, year on year: +21% (quarter to jun 2026 against jun 2025).
| Line item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 3,619 | 3,539 | 3,423 | 3,574 | 3,587 | 3,508 | 3,482 | 3,935 |
| Operating profit | 1,354 | 1,106 | 1,041 | 1,283 | 1,087 | 1,110 | 1,253 | 1,506 |
| Operating margin | 37.4% | 31.3% | 30.4% | 35.9% | 30.3% | 31.6% | 36.0% | 38.3% |
| Other income | 36 | 37 | 26 | 22 | 21 | 23 | 23 | 25 |
| Interest | 206 | 207 | 209 | 212 | 210 | 213 | 213 | 211 |
| Profit before tax | 1,184 | 936 | 858 | 1,093 | 898 | 920 | 1,063 | 1,320 |
| Tax rate | 24.5% | 21.7% | 24.7% | 24.1% | 22.7% | 21.7% | 24.1% | 24.1% |
| Net profit | 894 | 733 | 646 | 829 | 694 | 720 | 807 | 1,002 |
| EPS ($ per share) | 0.46 | — | 0.34 | 0.44 | 0.37 | — | 0.43 | 0.54 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Equity capital | 818 | 773 | 2,288 | 2,202 | 2,066 | 1,959 | 1,900 | 1,860 |
| Reserves | 12,157 | 11,404 | 11,259 | 11,630 | 10,229 | 9,609 | 9,988 | 10,560 |
| Total liabilities | 24,149 | 26,394 | 26,683 | 27,031 | 29,213 | 30,227 | 30,257 | 30,522 |
| Fixed assets | 31,998 | 32,168 | 32,444 | 33,015 | 34,070 | 34,721 | 35,658 | 36,811 |
| Investments | 253 | 996 | 2 | 77 | 129 | 83 | 72 | 5 |
| Total assets | 36,729 | 38,257 | 39,793 | 40,531 | 41,682 | 42,200 | 42,764 | 43,682 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 4,641 | 4,850 | 4,263 | 5,099 | 5,526 | 5,514 | 5,247 | 4,613 |
| Cash from investing | -1,684 | -2,102 | -649 | -1,877 | -2,063 | -2,227 | -2,605 | -2,851 |
| Cash from financing | -2,500 | -2,648 | -1,443 | -4,112 | -3,769 | -3,867 | -3,062 | -2,025 |
| Net cash flow | 457 | 100 | 2,171 | -890 | -306 | -580 | -420 | -263 |
| Capital expenditure | -1,745 | -1,657 | -1,626 | -1,791 | -2,113 | -2,257 | -2,529 | -2,902 |
| Free cash flow | 2,896 | 3,193 | 2,637 | 3,308 | 3,413 | 3,257 | 2,718 | 1,711 |
CSX revenue by segment
| Segment | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|
| Rail | 94% | 94% | 94% | 94% | 94% | 94% | +10.3% |
| Trucking | 6% | 6% | 6% | 6% | 6% | 6% | +4.6% |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
Insider filings
85 filings between Oct 20, 2025 and Sep 25, 2026.
Open market
decisions to buy or sellPurchases
$3.03M
2 purchases by 1 insider
Sales
$18.60M
9 sales by 6 insiders
Compensation
not trading decisions- 32
- Award — granted as compensation
- 11
- Option exercise — converted options into shares
- 29
- Tax withheld — shares kept back by the company to cover tax
Also filed: 2 gifts.
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| Boone Kevin S. | — | $7.50M | Jun 3, 2026 |
| Sorfleet Diana B | — | $6.24M | Feb 19, 2026 |
| ANGEL STEPHEN F | $3.03M | — | Mar 6, 2026 |
| Williams Angela C | — | $1.60M | Jul 24, 2026 |
| Burns Michael S. | — | $1.58M | Jul 24, 2026 |
| Fortune Stephen | — | $1.22M | Feb 3, 2026 |
| ZILLMER JOHN J | — | $464.5K | Jun 3, 2026 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Sep 25, 2026 | Cory Michael A. EVP & COO | Tax withheld | 12,611 | $589.9K |
| Sep 15, 2026 | WHISLER J STEVEN Director | Award | 771 | $37.5K |
| Jul 24, 2026 | Burns Michael S. SVP - CLO & Corp Secy | Sale | 13,000 | $684.8K |
| Jul 24, 2026 | Burns Michael S. SVP - CLO & Corp Secy | Option exercise | 13,000 | $344.5K |
| Jul 24, 2026 | Williams Angela C VP & Chief Accounting Officer | Sale | 30,000 | $1.60M |
| Jun 15, 2026 | WHISLER J STEVEN Director | Award | 791 | $37.5K |
| Jun 3, 2026 | Boone Kevin S. EVP & CFO | Option exercise | 13,455 | $305.4K |
| Jun 3, 2026 | Boone Kevin S. EVP & CFO | Option exercise | 123,253 | $2.89M |
| Jun 3, 2026 | Boone Kevin S. EVP & CFO | Sale | 136,708 | $6.38M |
| Jun 3, 2026 | ZILLMER JOHN J Director | Sale | 10,000 | $464.5K |
| Mar 13, 2026 | WHISLER J STEVEN Director | Award | 954 | $37.5K |
| Mar 6, 2026 | ANGEL STEPHEN F President & CEO | Purchase | 25,000 | $1.01M |
| Mar 2, 2026 | ZILLMER JOHN J Director | Gift | 5,850 | $0 |
| Feb 26, 2026 | Halverson Steven T Director | Award | 4,455 | $0 |
| Feb 26, 2026 | Williams Angela C VP & Chief Accounting Officer | Award | 1,876 | $0 |
| Feb 26, 2026 | WAINSCOTT JAMES L Director | Award | 4,455 | $0 |
| Feb 26, 2026 | Fortune Stephen EVP - CD & TO | Award | 10,903 | $0 |
| Feb 26, 2026 | Chow Anne H Director | Award | 4,455 | $0 |
| Feb 26, 2026 | CHAND M RIZWAN CHRO | Award | 11,724 | $0 |
| Feb 26, 2026 | Boone Kevin S. EVP & CFO | Award | 15,241 | $0 |
| Feb 26, 2026 | Burns Michael S. SVP - CLO & Corp Secy | Award | 8,207 | $0 |
| Feb 26, 2026 | Cory Michael A. EVP & COO | Award | 15,241 | $0 |
| Feb 26, 2026 | ANGEL STEPHEN F President & CEO | Award | 63,306 | $0 |
| Feb 26, 2026 | Bostick Thomas Director | Award | 4,455 | $0 |
| Feb 26, 2026 | Vautrinot Suzanne M Director | Award | 4,455 | $0 |
| Feb 26, 2026 | Kenney Maryclare T. SVP & CCO | Award | 9,379 | $0 |
| Feb 26, 2026 | WHISLER J STEVEN Director | Award | 4,455 | $0 |
| Feb 26, 2026 | ZILLMER JOHN J Director | Award | 4,455 | $0 |
| Feb 26, 2026 | ZILLMER JOHN J Director | Award | 5,862 | $0 |
| Feb 26, 2026 | MOFFETT DAVID M Director | Award | 4,455 | $0 |
| Feb 26, 2026 | Begeman Ann D. Director | Award | 4,455 | $0 |
| Feb 26, 2026 | Hilal Paul C Director | Award | 4,455 | $0 |
| Feb 26, 2026 | RIEFLER LINDA H Director | Award | 4,455 | $0 |
| Feb 19, 2026 | Sorfleet Diana B EVP & CAO | Option exercise | 25,434 | $456.3K |
| Feb 19, 2026 | Sorfleet Diana B EVP & CAO | Option exercise | 13,344 | $215.2K |
| Feb 19, 2026 | Sorfleet Diana B EVP & CAO | Option exercise | 51,222 | $1.16M |
| Feb 19, 2026 | Sorfleet Diana B EVP & CAO | Sale | 90,000 | $3.74M |
| Feb 13, 2026 | Kenney Maryclare T. SVP & CCO | Tax withheld | 441 | $18.0K |
| Feb 13, 2026 | Kenney Maryclare T. SVP & CCO | Tax withheld | 198 | $8.1K |
| Feb 13, 2026 | Kenney Maryclare T. SVP & CCO | Tax withheld | 294 | $12.0K |
| Feb 13, 2026 | Fortune Stephen EVP - CD & TO | Tax withheld | 1,711 | $69.9K |
| Feb 13, 2026 | Fortune Stephen EVP - CD & TO | Tax withheld | 2,010 | $82.1K |
| Feb 13, 2026 | Cory Michael A. EVP & COO | Tax withheld | 1,406 | $57.5K |
| Feb 13, 2026 | Cory Michael A. EVP & COO | Tax withheld | 1,296 | $53.0K |
| Feb 13, 2026 | Cory Michael A. EVP & COO | Tax withheld | 1,172 | $47.9K |
| Feb 13, 2026 | Fortune Stephen EVP - CD & TO | Tax withheld | 1,857 | $75.9K |
| Feb 13, 2026 | Burns Michael S. SVP - CLO & Corp Secy | Tax withheld | 895 | $36.6K |
| Feb 13, 2026 | Burns Michael S. SVP - CLO & Corp Secy | Tax withheld | 209 | $8.5K |
| Feb 13, 2026 | Burns Michael S. SVP - CLO & Corp Secy | Tax withheld | 135 | $5.5K |
| Feb 13, 2026 | Boone Kevin S. EVP & CFO | Tax withheld | 2,516 | $102.8K |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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