CSX · CSX Corporation Q2 FY2026 earnings call record财报电话会记录

“For the quarter, volume increased 6% and our revenue increased 10%, reaching a new quarterly record.”

“Putting it all together, operating income increased by 17%, with operating margins improving 240 basis points despite 160 basis points of fuel price headwinds.”

“The business also demonstrated an ability to efficiently absorb higher volumes with a 12% reduction in our intermodal terminal costs per lift.”

“Intermodal continues to build momentum and was the largest contributor to unit growth this quarter, with revenue up 26% on 9% higher volume and RPU up 16% year-over-year, driven by fuel surcharge.”

“In chemicals, we expect plastics volumes to moderate following pull-forward activity in the first half.”

“We now expect full-year revenue growth in the mid to high single digits, operating margin expansion of greater than 350 basis points, and free cash flow growth of greater than 80%.”

“I think as I think about our merchandise portfolio, the team recognizes the value of the service that we provide, and they're leaning in, having conversations with customers and continuing to accelerate price.”

“I'm not going to get into 2027 at this point, but I would say we have seen pricing accelerate in our domestic spot segment, which is a smaller portion of our business.”

“Great job on the higher volumes, but I guess maybe just to clarify, the 350 basis points target, that includes the gain on sale, right?”

“We would typically, I think, maybe expect to see the 3Q margin improving, especially when you have this type of volume acceleration, the strong start that you've had to July.”

“If we think about a range of merchandise pricing you've achieved over time, I don't know if the low end's 1%, the high end's 5% or 6%, something like that.”

“We saw good volumes as we started the program a little over 1 year ago.”