CSX Is Shedding Assets Even as Union Pacific Does the Opposite [The Motley Fool]
CSX Corporation (CSX)
Last csx corporation earnings: 4/22 04:02 pm
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Source: The Motley Fool
The two rail giants employ different approaches to increasing operating efficiency. Last week, CSX Corporation ( NASDAQ:CSX ) announced that it's soliciting bids for six non-contiguous rail segments located in North Carolina, West Virginia, Kentucky, and New York. Selling the non-core assets, which comprise approximately 650 miles of track, is part of a broader initiative to drive asset utilization, enhance network efficiency and create long-term value for the company, according to CSX's June 6 press release . That broader initiative is, of course, the transformation of CSX into a scheduled railroad, i.e., one that optimizes assets while implementing a strict service plan and precision train scheduling. This project was set into motion by railroad legend and former CSX CEO Hunter Harrison, who passed away last year. It's now being carried forward aggressively by CEO Jim Foote and the company's management team. Image source: Getty Images. Slimming down minimiz
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CSX
News
- Railroad CEO Isn't Ruthless Enough for Investors After Toxic Crash [BNN Bloomberg (Canada)]BNN Bloomberg
- Canadian Pacific KC (CP) Q1 Earnings Lag Estimates, Up Y/Y [Yahoo! Finance]Yahoo! Finance
- CSX Announces 2024 Customer Environmental Excellence Award WinnersGlobeNewswire
- CSX Corporation (NASDAQ:CSX) Q1 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
- CSX: Volume Trending In The Right Direction [Seeking Alpha]Seeking Alpha
CSX
Earnings
- 4/17/24 - Beat
CSX
Sec Filings
- 4/18/24 - Form 10-Q
- 4/17/24 - Form 8-K
- 4/2/24 - Form 4
- CSX's page on the SEC website