Rolling on

DESPITE tough business conditions, CSX executive vice-president and chief financial officer Fredrik Eliasson believes the railroad is in good shape.
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Image courtesy of CSX

Noel Dyson

“We have sustained strong financial performance through challenging business conditions over the past five years, with consistent improvements in operating income, earnings per share and operating ratio,” Eliasson told analysts at a recent Deutsche Bank conference.

Coal, though, remains a problem for the railroad.

Its coal business once again suffered declines.

Eliasson said it was in the second year of a two-year transition period.

Growth in its intermodal and merchandise businesses helped take up the slack.

Eliasson reiterated CSX’s guidance in deploying cash for shareholders, including a shareholder dividend increase, a billion-dollar share repurchase program over 24 months and capital investment of $2.3 billion this year.

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