Q1 25 EPS
$0.34
MISS 7.71%
Est. $0.37
Q1 25 Revenue
$3.42B
MISS 0.78%
Est. $3.45B
vs S&P Since Q1 25
+30.5%
BEATING MARKET
CSX +67.4% vs S&P +36.9%
Market Reaction
Did CSX Beat Earnings? Q1 2025 Results
CSX Corporation delivered a disappointing first quarter of 2025, missing Wall Street expectations on both the top and bottom lines as a confluence of operational headwinds weighed heavily on results. The railroad operator posted diluted EPS of $0.34,… Read more CSX Corporation delivered a disappointing first quarter of 2025, missing Wall Street expectations on both the top and bottom lines as a confluence of operational headwinds weighed heavily on results. The railroad operator posted diluted EPS of $0.34, falling 7.71% short of the $0.37 consensus estimate, while revenue slid 7.0% year-over-year to $3.42 billion, just below the $3.45 billion analysts had expected. The single most damaging driver was the double impact of the Howard Street Tunnel project and severe winter weather, which together inflicted roughly $25 million in incremental network disruption costs while degrading key operational metrics, with carload trip plan performance dropping 16 percentage points to 69% and train velocity slipping to 17.6 mph. Coal revenue collapsed 27% to $461 million, compounding the pressure. CEO Joe Hinrichs, who acknowledged results "did not meet our expectations," characterized Q1 as a profitability trough, pointing to targeted operational improvements and anticipated volume growth for the full year, even as trade and tariff uncertainties cloud the broader freight environment.
Key Takeaways
- • Declines in coal revenue driven by reduced export production and customer facility outages
- • Lower fuel surcharge revenue due to declining highway diesel prices
- • Merchandise volume declines across automotive, minerals, forest products, and metals segments
- • Network disruptions and congestion from Howard Street Tunnel project and severe winter weather
- • Higher merchandise pricing partially offset volume declines
- • Intermodal volume growth of 2% driven by higher international port volumes
- • Fuel cost savings of $50 million from 15% decrease in locomotive fuel prices
- • Operational metrics deteriorated: velocity down 3%, dwell up 19%, carload trip plan performance down 16 percentage points
CSX YoY Financials
Q1 2025 vs Q1 2024, source: SEC Filings
CSX Revenue by Segment
With YoY comparisons, source: SEC Filings
“CSX faced operational challenges to start the year, which contributed to first quarter results that did not meet our expectations.”
— Joe Hinrichs, Q1 2025 Earnings Press Release
CSX Earnings Trends
CSX vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
CSX EPS Trend
Earnings per share: estimate vs actual
CSX Revenue Trend
Quarterly revenue: estimate vs actual
CSX Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 | — | $0.43 | — | $3.48B | -0.13% |
| Q4 25 MISS FY | $0.42 | $0.39 | -7.65% | $3.51B | +31.26% |
| FY Full Year | $1.64 | $1.54 | -6.07% | $14.09B | -0.27% |
| Q3 25 BEAT | $0.42 | $0.44 | +3.63% | $3.59B | +0.48% |
| Q2 25 BEAT | $0.42 | $0.44 | +5.47% | $3.57B | -0.07% |
| Q1 25 MISS | $0.37 | $0.34 | -7.71% | $3.42B | -0.78% |