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How CSX Corporation (CSX) makes money: Q2 2026 revenue breakdown
US GAAP · $M · vs Q2 2025 · reported 07/22/2026
CSX Corporation is an American holding company focused on rail transportation and real estate in North America, among other industries. · Wikipedia
More about the company
The company was established in 1980 as part of the Chessie System and Seaboard Coast Line Industries merger. The various railroads of the former Chessie System and Seaboard Coast Line Industries that are now owned by CSX Corporation were eventually merged into a single line in 1986 and it became known as CSX Transportation. CSX Corporation currently has a number of subsidiaries beyond CSX Transportation. Previously based in Richmond, Virginia after the merger, the corporation moved its headquarters to Jacksonville, Florida, in 2003. CSX is a Fortune 500 company.
Key growth driver: Merchandise — the fastest-growing revenue line: $2,446, +8% y/y. · by the Q2 2026 report
How does CSX make money?
CSX brought in $3.94 billion of revenue in Q2 2026, up 10% year over year. The largest source was Merchandise: $2.45 billion, or 62% of the total, followed by Intermodal ($620M, 16%) and Coal ($520M, 13%); other lines add the remaining 9%. Net income for the quarter was $1.00 billion, up 21% year over year.
Revenue by source, Q2 2026
- Merchandise$2.45B · 62% · +8%
- Intermodal$620M · 16% · +26%
- Coal$520M · 13% · +9%
- Trucking$226M · 6% · +7%
- Other$123M · 3% · −11%
Shares of $3.94B total revenue; changes are year over year, as reported. ≈ marks lines derived from disclosed totals. The same flows are drawn in the Sankey chart below.
When is CSX’s next earnings date?
Wednesday, October 21, 2026confirmed · after market close
CSX Corporation (CSX) is scheduled to report results for the quarter ending Sep 2026 on Oct 21, 2026. Consensus EPS forecast: $0.53 (8 analysts), vs $0.44 in the same quarter last year.
What time does CSX report? Usually after market close: the last 4 results releases reached the SEC at 4:01 pm, 4:01 pm, 4:01 pm, 4:01 pm ET.
Last report: Jul 22, 2026 (Q2 2026) — broken down in the Sankey chart below. Dates and consensus: Nasdaq / Zacks Investment Research; companies do reschedule. Who else reports this week →
All figures in $M.
Revenue
$3,935
+10%
Volume +6% · rev/unit +4%
Operating income
$1,506
+17%
38.3% margin · +240 bp
Net income
$1,002
+21%
Diluted EPS $0.54 · +23%
Verdict: a record-revenue quarter with operating leverage on full display — revenue up 10% on 6% volume growth while total costs rose only 6%, expanding operating margin 240 bp to 38.3% and driving EPS up 23%.
Volume 1.68M units (+6%) · intermodal volume +9% · revenue per unit $2,348 (+4%) · six-month net earnings $1,809M (+23%).
Source and notation
* marks non-cash / ≈ estimated. Source: CSX press release and Quarterly Financial Report, 8-K (SEC EDGAR).
Open the chart as a PNG image ↗ · for sharing and presentations · free to reuse, CC BY 4.0
CSX earnings history: past report dates
| Jul 22, 2026 Wed | 4:01 pmafter market close | Jun 30, 2026 | $3.9B+10% y/y | $0.54+23% y/y |
| Apr 22, 2026 Wed | 4:01 pmafter market close | Mar 31, 2026 | $3.5B+2% y/y | $0.43+26% y/y |
| Jan 22, 2026 Thu | 4:01 pmafter market close | Dec 31, 2025 | ≈$3.5B−1% y/y | ≈$0.39+0% y/y |
| Oct 16, 2025 Thu | 4:01 pmafter market close | Sep 30, 2025 | $3.6B−1% y/y | $0.37−20% y/y |
| Jul 23, 2025 Wed | 4:01 pmafter market close | Jun 30, 2025 | $3.6B−3% y/y | $0.44−10% y/y |
| Apr 16, 2025 Wed | 4:01 pmafter market close | Mar 31, 2025 | $3.4B−7% y/y | $0.34−24% y/y |
| Jan 23, 2025 Thu | 4:01 pmafter market close | Dec 31, 2024 | ≈$3.5B−4% y/y | ≈$0.39−13% y/y |
| Oct 16, 2024 Wed | 4:02 pmafter market close | Sep 30, 2024 | $3.6B+1% y/y | $0.46+12% y/y |
How we count
Report date and time — when the company filed its results press release with the SEC (Form 8-K, Item 2.02); the regular session runs 9:30 am – 4:00 pm ET. Revenue and diluted EPS — the company’s XBRL filings, EPS adjusted for stock splits; ≈ — fourth quarter derived as full year minus three quarters. Source: SEC EDGAR.
CSX Corporation: 5-year financials
| 2025 | 14,092 | 4,521 | 2,889 | 1,711 | 972 |
| 2024 | 14,540 | 5,245 | 3,470 | 2,718 | 930 |
| 2023 | 14,657 | 5,499 | 3,668 | 3,257 | 882 |
| 2022 | 14,853 | 5,954 | 4,114 | 3,413 | 852 |
| 2021 | 12,522 | 5,594 | 3,781 | 3,308 | 839 |
$ millions, annual 10-K reports on SEC EDGAR (US GAAP).
How we calculate
Figures are the annual report lines as filed, no adjustments. Free cash flow is operating cash flow minus capital expenditures; dividends are cash paid to common shareholders during the year. “—” means the line isn’t in the filing.
Corporate governance
2/2good
How the company treats minority shareholders: 2 — well, 0 — systematically poorly.
More
- Feb 202610-K FY2025: on Jul 10, 2025 the SEC said it had concluded its investigation into non-financial metrics and does not recommend an enforcement action. sec.gov ↗
- Feb 2026Diluted shares 2,305M (2020) → 1,873M (2025), −19%. data.sec.gov ↗
- Jun 20178-K: at the Jun 5, 2017 meeting shareholders approved by an overwhelming majority (advisory vote) the reimbursement to Mantle Ridge and CEO Hunter Harrison. sec.gov ↗
- Mar 20262026 proxy: no related-party transactions in 2025. sec.gov ↗
Scoring: 2.0, no deductions: single share class, diluted shares −19% over 5 years, dividend growing, the SEC closed its inquiry in Jul 2025 with no action; the 2017 Mantle Ridge/Harrison compensation approved by shareholders
- Share classes
- Single class of common stock (10-K cover).
- Dilution
- Diluted shares 2,305M (2020, adjusted for the 2021 3-for-1 split) → 1,873M (2025), −19%; SBC 0.4%.
- Disclosure
- Full reporting.
- Dividends
- Dividend growing: $0.44 (2023) → $0.52 (2025) post-split; buybacks of $1.4–4.7B a year.
- Lawsuits & regulators
- The SEC reviewed non-financial metrics and said on Jul 10, 2025 it would not recommend action; no shareholder suits.
- Related parties
- No related-party transactions in 2025; the ~$84M reimbursement to Mantle Ridge/Harrison (2017) was put to a vote and approved by shareholders — no deduction.
How the score works · checked as of Sep 2026
CSX Corporation (CSX) earnings: FAQ
How does CSX make money?
CSX brought in $3.94 billion of revenue in Q2 2026, up 10% year over year. The largest source was Merchandise: $2.45 billion, or 62% of the total, followed by Intermodal ($620M, 16%) and Coal ($520M, 13%); other lines add the remaining 9%. Net income for the quarter was $1.00 billion, up 21% year over year.
When is CSX's next earnings date?
CSX Corporation (CSX) is scheduled to report on Oct 21, 2026, after market close.
What time does CSX report earnings?
CSX Corporation is scheduled to report after market close on Oct 21, 2026. Its last results releases were filed after market close, most recently at 4:01 pm ET on Jul 22, 2026.
When did CSX last report earnings?
CSX Corporation reported Q2 2026 results on Jul 22, 2026.
What is the EPS estimate for CSX's next earnings?
The consensus EPS forecast is $0.53 (8 analysts), vs $0.44 in the same quarter last year.
Where can I find CSX Corporation's financial statements?
On SEC EDGAR: quarterly reports (10-Q), the annual report (10-K) and earnings releases (8-K). The “Verified” badge next to the chart links to CSX's filings; this page breaks the latest report down in a Sankey chart.
What was CSX's net income in Q2 2026?
CSX Corporation reported net income of $1,002M for Q2 2026 (+21% year over year), under US GAAP.
Does CSX Corporation pay dividends?
Yes. In 2025, CSX Corporation paid $972M in dividends on its common stock, per its 10-K. Earlier years are in the five-year table above.
New to earnings reports? Start with how to read an earnings report.
How this page was made: the figures come from the company's own report on SEC EDGAR; the summary and nuances were drafted by our model from that report. Figures checked against the filing on 08/26/2026. How we make the breakdowns · Report an error
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