UPDATE 1-CSX outlines path forward after death of former CEO Harrison [Reuters]
CSX Corporation (CSX)
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Source: Reuters
CSX outlines path forward after death of former CEO Harrison | Reuters 2 Min Read (Reuters) - U.S. railroad operator CSX Corp on Thursday reaffirmed its longer-term plan for boosting profitability and outlined financial targets for the next two years, ahead of its first investor day after the death of former chief executive officer, Hunter Harrison. Harrison, a favorite of investors for leading turnarounds of two Canadian railroads, died in December just eight months into an overhaul that included shutting multiple rail yards, deep job cuts, mothballing locomotives and running trains on tight schedules rather than based on customer needs. The railroad reaffirmed that it would substantially lower its operating ratio - a closely watched measurement of profitability â?? to 60 percent by 2020 from 67.9 percent at year-end 2017. The operating ratio is a measure of operating expenses as a percentage of revenue. Florida-based CSX said it expected revenue growth at a compound annual rate of 4
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CSX
Earnings
- 4/17/24 - Beat
CSX
Sec Filings
- 4/17/24 - Form 8-K
- 4/2/24 - Form 4
- 3/25/24 - Form ARS
- CSX's page on the SEC website