Demo
CSX Nasdaq· CSX Corp
FundamentalsNews digest Peer analysis
Login
CSX Nasdaq· CSX Corp
Earnings report Q4 2023

CSX Sees Slight Revenue Decline Amid Mixed Segment Performance

Segments of Revenue

CSX's total revenue for the year was $14.7 billion, a decrease of 1% compared to the previous year. The company's revenues are primarily derived from the transportation of freight. The revenue breakdown by market shows that Chemicals brought in $2.6 billion, Agricultural and Food Products $1.66 billion, Automotive $1.22 billion, Forest Products $1.01 billion, Metals and Equipment $917 million, Minerals $733 million, and Fertilizers $516 million. The total revenue from merchandise was $8.65 billion. Additionally, Coal contributed $2.48 billion, Intermodal $2.06 billion, Trucking $882 million, and Other $578 million.

Strengths

Despite the overall decrease in revenue, CSX saw gains in several segments. The Automotive segment increased due to higher North American vehicle production and new business wins, while the Minerals segment saw a boost from higher shipments of aggregates and cement driven by increased road construction and other infrastructure-related activities. The Chemicals segment also saw increased shipments of export plastics, waste, and sand.

Challenges

The decrease in total revenue was primarily due to decreases in other revenue, lower fuel recovery, pricing declines in export coal due to the impact of lower benchmark rates, and declines in intermodal volume. The Agricultural and Food Products segment also saw a decrease due to lower shipments of ethanol and export grain.

Noteworthy

Despite the overall decrease in revenue, the company managed to increase its revenue in several segments, including Chemicals, Automotive, and Minerals. This suggests that CSX has been able to find growth opportunities even in a challenging market environment.

Summary

CSX's latest financial performance shows a slight decrease in total revenue, driven by declines in several areas. However, the company has also demonstrated resilience, with several segments showing growth. The mixed performance across segments suggests that CSX is navigating a complex market environment, with some areas of its business able to offset challenges in others.

Source documents

Form 10-K  filed on Feb 14, 2024
119 pages scanned

Reference data

Company financials Q4 revenue 3.68B
Analyst estimates Q4 EPS beat by 1.86%
Sign up to Fey

Get in-depth analysis on thousands of stocks for just $30/month. Cancel anytime.