March 30, 2026 – CSX Corp. has released its 2025 Annual Report, outlining how the railroad completed two landmark infrastructure projects, improved safety, and rebuilt network momentum after a year marked by severe weather disruptions and a softer freight environment.

In a letter to shareholders, President and Chief Executive Officer Steve Angel said the company’s results “fell short of our expectations” but emphasized that work completed in 2025 positions CSX for stronger operational and financial performance in 2026.

“Our objective is to build CSX into the best-performing railroad in North America, measured by the safety of our operations, the reliability of our service, the efficiency of our cost structure, and the returns we generate on the capital our shareholders entrust to us,” Angel wrote.

Key 2025 highlights

CSX said it made progress across core priorities during the year, including:

• Delivering major infrastructure projects: CSX reopened Baltimore’s Howard Street Tunnel after a major expansion that cleared a long-standing bottleneck on the I-95 corridor and will enable double-stack intermodal service through Baltimore once remaining clearance work is completed in early 2026. The company also rebuilt 60 miles of the Blue Ridge Subdivision after Hurricane Helene flooding and restored full service in under a year. CSX also cited completion of the 75th Street CREATE Flyover in Chicago, which eliminated a key chokepoint in the nation’s busiest rail hub.
• Improving safety performance: CSX reported its 2025 Federal Railroad Administration personal injury frequency index improved 24% from the prior year to 0.94 and its train accident rate improved 13% to 3.08. The company also highlighted technology deployments such as its Mobile Collision Safety system and expanded use of autonomous electric shuttles at select terminals.
• Strengthening service through the back half: CSX said network performance improved as early-year disruptions cleared, with fourth-quarter results showing average network velocity up 7% and terminal dwell improved 13% from the prior year, while carload trip plan performance increased 9% and intermodal trip plan performance rose 8%.
• Advancing growth initiatives: CSX added 85 new or expanded rail-served facilities in 2025 and said it had approximately 600 customer-related development projects in various stages across its network. The railroad also pointed to new and expanded intermodal and interchange agreements designed to broaden market access.

Financial snapshot

CSX reported revenue of $14.1 billion in 2025, down 3% from the prior year, with operating margin of 32.1% and earnings per diluted share of $1.54. The company said revenue declines were driven primarily by lower export coal revenue, reduced merchandise volumes, and lower fuel recovery, partially offset by merchandise pricing gains and higher intermodal volumes.

CSX’s 2025 Annual Report includes the company’s Form 10-K for the fiscal year ending Dec. 31, 2025, along with highlights on safety, service, growth, sustainability and governance. To review the full document, click here or visit the investor section of csx.com.