Record CSX First Quarter Fueled in Part by Export Coal; Harrison Spooling Up his Plans
The big story at CSX is of course the arrival of turnaround expert and new CEO Hunter Harrison. He has already taken some action in his first month, by beginning his research and initially converting four of the firm’s 12 hump yards to flat--but we think it’s premature to credit Harrison for good results CSX produced this quarter. Indeed, the 69.2% operating ratio (excluding restructuring charges incurred prior to Harrison’s arrival) and the $0.51 EPS were both records. We increased our fair val...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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