CSX Continues to Implement Precision Scheduled Railroading to Strong Operating Ratio Benefit
We expect to make no major change to our CSX fair value estimate after first-quarter results because we already expected modest revenue expansion paired with improved margins this year, and the rail did not disappoint. In fact, CSX improved its operating ratio by 420 basis points year over year to a first-quarter record of 59.5%. Operating income increased 17% and EPS grew 31%. Concerns that CSX would stumble after the sudden loss of CEO Hunter Harrison in December 2017 have now been proved misp...CSX provides rail-based freight transportation services. The company's principal operating subsidiary, CSX Transportation, Inc., provides a link to the transportation supply chain through its rail network, which serves centers in states east of the Mississippi River, the District of Columbia and the Canadian provinces of Ontario and Quebec. The company's CSX Intermodal Terminals, Inc. subsidiary owns and operates a system of intermodal terminals, primarily in the eastern United States and also performs drayage services (the pickup and delivery of intermodal shipments). The company's Total Distribution Services, Inc. subsidiary serves the automotive industry with distribution centers and storage locations.
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