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
Feds want nuclear waste train, but there's nowhere for it to go
Bakken crude oil production relies on rail shipments
As more oil travels along rail, more safety concerns come up
Rail safety measures due in Virginia after oil train wrecks
Oil train regulation passes in California
Illinois to spend another $102 million on high-speed rail
Officials warn of transient rail riders
High school volleyball team photo halts UP traffic in Nebraska
Norfolk Southern CMO Donald W. Seale sells $3.4 million in stock
Feds eye stricter rules for railroad rights of way
Downeaster ridership rises in spite of delays
Reports on 5 federal Metro-North probes due in November
Editorial: Ancient Metro-North desperately needs huge investments
Bustling rail business in Decatur
Touring the Golden Spike Tower and Bailey Yards
Railroad Retirement Board financial reports

More Headlines


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

Subscribe  Unsubscribe