JACKSONVILLE, Fla., Nov. 21, 2014 /PRNewswire/ -- CSX (NYSE: CSX) is positioning itself to continue delivering strong financial results by balancing stabilized service levels, improving efficiency and continued growth opportunities, Chief Transportation Officer Cindy Sanborn told an industry audience today at the annual RailTrends conference in New York City.
"CSX is committed to delivering Service Excellence for its customers, which reinforces our strategy of driving the company's ability to grow faster than the economy, pricing above inflation and producing ever more efficient operations," Sanborn said. "CSX is working to put the right people and resources in the right places, combined with process improvements and increased communication with our peers, to serve the broad-based growth we continue to see across nearly all markets that we serve."
As customer demand continues to rise, CSX network performance remains stable, with key indicators including on-time originations and arrivals holding steady in the fourth quarter as compared to the previous two quarters.
"We are working around the clock to further improve operations at a steady pace into 2015 even as we handle the traditional fall peak and record grain harvest," Sanborn said.
To facilitate that improvement, CSX is adding additional locomotives, hiring new train crew employees, accelerating capacity projects and adjusting operating processes. Fluidity in Chicago remains a top priority for CSX and its peer railroads. CSX is using infrastructure improvements to help ease congestion while also improving coordination with other railroads in Chicago. These resources and process adjustments will support fluidity and growth, preserving the flexibility to drive long-term asset utilization improvements.
At the same time, CSX is making additional process changes to help reduce potential winter weather impacts. Increasing preparation in conjunction with customers, deployment of additional weather preparation and response equipment, and formal contingency plans for routing, capacity and inventory management are all complete or underway.
On the strength of this multi-faceted plan to improve fluidity, serve growth opportunities and drive long-term asset utilization, the company continues to expect fourth quarter earnings per share growth at a similar level as it achieved in the third quarter. CSX remains confident in its ability to deliver double digit earnings growth and margin expansion in 2015 as it progresses toward a mid-60s operating ratio over the longer term.
More information about CSX's network performance plan is available at http://www.csx.com/index.cfm/customers/service-overview/. Investors can visit http://investors.csx.com/phoenix.zhtml?c=92932&p=irol-irhome for more information about CSX's financial performance.
CSX, based in Jacksonville, Florida, is a premier transportation company. It provides rail, intermodal and rail-to-truck transload services and solutions to customers across a broad array of markets, including energy, industrial, construction, agricultural, and consumer products. For more than 185 years, CSX has played a critical role in the nation's economic expansion and industrial development. Its network connects every major metropolitan area in the eastern United States, where nearly two-thirds of the nation's population resides. It also links more than 240 short-line railroads and more than 70 ocean, river and lake ports with major population centers and small farming towns alike. More information about CSX Corporation and its subsidiaries is available at www.csx.com. Like us on Facebook (http://www.facebook.com/OfficialCSX) and follow us on Twitter (http://twitter.com/CSX).
SOURCE CSX Transportation
David Baggs, Investor Relations, 904-359-4812, or Melanie Cost, Corporate Communications, 904-359-1702