1370 Ontario St. - Mezzanine, Cleveland, Ohio 44113 • (216) 241-2630 / Fax: (216) 241-6516

Membership
Benefits
News and Issues
Departments
Secretary-Treasurers
Information
Merchandise
Communications
FELA
Events
Links
User Info

CSX CFO says railroad poised for double-digit earnings growth ahead

(Source: CSX press release, May 8, 2014)

JACKSONVILLE, Fla. — Despite the difficult winter conditions of the first quarter, CSX is positioned to capitalize on underlying economic strength and market opportunities in the balance of 2014 to grow earnings, Fredrik Eliasson, CSX Corporation executive vice president and chief financial officer, told investors and analysts at the Bank of America Merrill Lynch Global Transportation Conference in Boston.

“With winter behind us, volume growth has picked up strongly, and we have visibility to several million new tons of domestic coal as inventories are normalizing and natural gas prices have risen,” Eliasson told investors. “With the broader economy remaining healthy and with this improved environment for our domestic coal business, we expect to produce modest earnings growth in 2014.”

Through the first five weeks of the second quarter, CSX volume increased 9 percent, with broad-based growth across nearly all markets. Expectations for 2014 will represent the ninth time in the last ten years that CSX has produced earnings growth for investors, despite a 55 percent loss in domestic coal volume over the last several years

“We have emerged from the reshaping of the energy markets as a stronger, more flexible and more customer-driven company,” Eliasson said. “CSX is well positioned to deliver compelling results for our shareholders as we support manufacturing renewal, energy independence and global trade.”

The company expects to again produce double-digit earnings growth and margin expansion beginning in 2015, and expects to sustain an operating ratio in the mid-60s longer-term. This builds on a foundation of success over the last ten years during which CSX increased EPS nearly 2000 percent with total shareholder return of nearly 500 percent, easily outperforming the broader market.

Friday, May 09, 2014

Like us on Facebook at
Facebook.com/BLETNational

© 1997-2014 Brotherhood of Locomotive Engineers and Trainmen

 


Safety Task Force Hotline
800-306-5414

Decertification Helpline
800-393-2716

DAILY HEADLINES

Teamster Nation: Get the latest updates in the War on Workers
Norfolk Southern sues to block disclosure of crude oil shipments
AAR: Combined weekly rail traffic up 6.7 percent over 2013 for week ending July 19
BNSF losing freight to rival as service slows
NTSB to meet on the Paulsboro train derailment and hazmat release
BNSF train carrying crude oil derails in Seattle
Senator Thune calls for further oversight to ease grain concerns
Appeals court upholds proposed California bullet train route
Locomotive in Lac-Megantic disaster likely to be withheld from auction
NC Ports Authority officials focus on rail to drive business
Norfolk Southern sells Murphy Branch line to Watco
SEPTA: Ridership dip last 12 months due to harsh weather, fare hike
Metro-North assigns manager to troubled Waterbury branch

More Headlines


Enter your e-mail address to receive BLET news updates.

Subscribe  Unsubscribe