Q4 25 EPS
$0.39
MISS 7.65%
Est. $0.42
Q4 25 Revenue
$3.51B
BEAT +31.26%
Est. $2.67B
vs S&P Since Q4 25
+17.8%
BEATING MARKET
CSX +22.4% vs S&P +4.6%
Full Year 2025 Results
FY 25 EPS
$1.54
MISS 6.07%
Est. $1.64
FY 25 Revenue
$14.09B
MISS 0.27%
Est. $14.13B
Market Reaction
Did CSX Beat Earnings? Q4 2025 Results
CSX Corporation delivered a mixed fourth quarter for 2025, missing on the bottom line while posting a notable revenue beat against a subdued demand backdrop. The railroad earned $0.39 per share, falling 7.65% short of the $0.42 consensus estimate, as… Read more CSX Corporation delivered a mixed fourth quarter for 2025, missing on the bottom line while posting a notable revenue beat against a subdued demand backdrop. The railroad earned $0.39 per share, falling 7.65% short of the $0.42 consensus estimate, as roughly $50 million in severance and technology rationalization charges weighed on results. Revenue came in at $3.51 billion, topping the $2.67 billion estimate by 31.26%, though the figure still represented a 0.9% decline from the year-ago period, dragged lower by soft merchandise volumes and weaker export coal revenue tied to lower benchmark pricing. Chemicals shipments fell 6% and automotive volumes dropped 5% on reduced North American vehicle production, underscoring the challenging industrial environment the company is navigating. On the cost side, higher labor expenses and elevated derailment and casualty charges added pressure, even as operational metrics improved sharply, with train velocity up 7% and personal injury frequency down 39%. CEO Steve Angel signaled that productivity gains and capital discipline should position CSX for improved financial performance heading into 2026.
Key Takeaways
- • Higher pricing in merchandise and intermodal offset by lower merchandise volume and reduced export coal revenue
- • Intermodal volume increased 5% driven by key customer wins and new service offerings
- • Minerals volume increased 6% on higher aggregates and cement shipments
- • Fertilizers volume increased 7% due to higher short-haul phosphates shipments
- • Train velocity improved 7% and dwell improved 13% year-over-year
- • Personal injury frequency improved 39% and train accident rate improved 47%
- • Employee headcount reduced by 601 to 22,935 reflecting cost restructuring
- • Fuel surcharge revenue increased to $243 million from $221 million
CSX YoY Financials
Q4 2025 vs Q4 2024, source: SEC Filings
CSX Revenue by Segment
With YoY comparisons, source: SEC Filings
“Our quarterly results reflect the subdued industrial demand environment and actions taken to adjust our cost structure.”
— Steve Angel, Q4 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% |