CSX profit jumped 30 percent during the first quarter 2011 versus the first quarter 2010, the railroad reported April 19. This comes on the heels of a 35 percent improvement in operating profit for calendar year 2010.
The CSX employee headcount rose in March to 30,464 employees, up 3 percent from March 2010, the railroad said.
More positive financial news is expected from other major railroads as they report first quarter results in the days ahead. Union Pacific will report its first quarter results April 20.
The CSX operating ratio for the first quarter 2011 — one of the more difficult for railroads because of winter weather — was a record low 72.5 for any first quarter. The fourth quarter 2010 CSX operating ratio was 71.1, and the railroad predicted its operating ratio could fall to a record-low 65 this year.
Operating ratio is a railroad’s operating expenses expressed as a percentage of operating revenue, and is considered by economists to be the basic measure of carrier profitability. The lower the operating ratio, the higher is profit.
“Shipments across all major markets — merchandise, intermodal and coal — increased as the economy continued to grow,” the railroad told financial analysts.
CSX operates some 21,000 route miles in 23 states and the District of Columbia.
Related News
- Local #823 member killed in on-duty collision
- The Safety Of Our BNSF Brothers And Sisters Is Not For Sale!
- Tragic Collision in Pecos, Texas Claims Two Lives
- SMART-TD union announces the passage of the Railroad Employee Equity and Fairness Act (REEF)
- SMART-TD member elected to lead Kansas worker group
- SMART-TD condemns Union Pacific’s lease to Central Oregon Pacific Railroad
- Sharp-eyed conductor saves two lives in winter crossing accident
- Union Takes Bold Step To Force Congress To Act On Rail Safety
- Fundraiser established for fallen brother, Local Chairperson of 1518, Steve Bryant
- Railroad and Transit Union officers continue streak as top grassroots lobbyists