CSX CORP (CSX)

CSX Corporation, headquartered in Jacksonville, Florida, is one of the nation's leading transportation companies, providing rail-based freight transportation and related services through its principal operating subsidiary, CSX Transportation, Inc. (CSXT), which operates an approximately 20,000 route-mile rail network serving 26 states east of the Mississippi River, the District of Columbia, and the Canadian provinces of Ontario and Quebec, with access to over 70 ocean, river and lake port terminals. The company's network connects to other Class I railroads and more than 240 short-line and regional railroads, and was expanded through the June 2022 acquisition of Pan Am Systems, which strengthened its reach in the Northeastern United States. Beyond CSXT, which also manages the company's real estate activities, CSX's subsidiaries include Quality Carriers (acquired July 2021, the largest bulk liquid chemicals trucking provider in North America), CSX Intermodal Terminals (operating intermodal terminals and drayage services), Total Distribution Services (serving the automotive industry), TRANSFLO (transferring products from rail to truck, primarily in chemicals and agriculture), and CSX Technology, among others.

In 2023, CSX generated $14.7 billion in revenue across four primary lines of business: merchandise (2.6 million carloads, 59% of revenue, spanning chemicals, agricultural/food products, automotive, minerals, forest products, metals/equipment, and fertilizers), intermodal (2.8 million units, 14% of revenue, operating through roughly 30 terminals), coal (755 thousand carloads, 17% of revenue, serving power plants, steel manufacturers, and export markets), and trucking (6% of revenue, via Quality Carriers), with the remainder from other sources such as regional railroad shipments, storage, demurrage, and switching charges. The company employed more than 23,000 people as of December 2023, including approximately 17,700 unionized rail workers covered by national and CSX-specific labor agreements effective through December 31, 2024. With a heritage dating back to the 1827 chartering of the Baltimore and Ohio Railroad and shaped by subsequent mergers including the 1980 Chessie System/Seaboard Coast Line combination and the acquisition of Conrail assets, CSX Corporation was incorporated in Virginia in 1978.

The company operates in a highly competitive environment, primarily against other railroads (notably Norfolk Southern Railway) and motor carriers, and is subject to regulation by the Surface Transportation Board, Federal Railroad Administration, PHMSA, EPA, TSA in the U.S., and the Canadian Transportation Agency in Canada.