CSX Corporation (CSX) Q3 2025 10-Q Quarterly Report
CSX Corporation (CSX) 10-Q quarterly report for Q3 2025, filed with SEC EDGAR on Oct 16, 2025 for the fiscal period ending Sep 30, 2025. This page provides AI-powered analysis including management discussion & analysis (MD&A), risk factor updates, and key quarterly financial data such as revenue and net income extracted from XBRL.
CSX Corporation Q3 2025 10-Q Analysis
Management Discussion & Analysis
- • Revenue $3.59B, down $32M (1%) YoY in Q3 2025; nine months revenue $10.58B, down $417M (4%) YoY
- • Operating margin 30.3% vs 37.4% YoY in Q3; operating income $1.09B, down $267M (20%) YoY; EPS $0.37, down 20%
- • Best performing segment: Intermodal volume up 2%, revenue stable; worst: Coal revenue down 9% with export coal volume -11%
- • Cash decreased $321M YTD; $632M less operating cash flow due to $429M tax payment; capital spending increased $423M including $440M Blue Ridge rebuild
- • New CEO appointed Sept 2025; near-term risks include coal market weakness, inflation impact, network disruptions, and labor negotiations
Risk Factors
- • New risk: Goodwill impairment $70M charge for Quality Carriers triggered by extended trucking market recession and economic uncertainty
- • Most materially updated risk: Environmental liabilities involving Pharmacia/Monsanto in EPA Superfund remediation; Consent Decree approved Dec 2024, now under appeal, ongoing negotiations continuing
- • Regulatory risk: SEC investigation closed July 2025 with no enforcement action following inquiry into 2024 accounting restatement and non-financial metrics
- • Market risk: Revenue decline to $3.587B Q3 2025 from $3.619B Q3 2024 amid trucking segment downturn impacting near-term performance
- • Financial risk: Long-term debt increased to $19.162B with new $600M 5.05% notes issued March 2025; no borrowings on $1.2B credit facility or $1.0B commercial paper as of Q3 2025
CSX Corporation Q3 2025 Quarterly FinancialsXBRL
Revenue
$3.6B
▼ -0.9% YoY▲ +0.4% QoQ
Net Income
$694M
▼ -22.4% YoY▼ -16.3% QoQ
Operating Margin
30.3%
▼ -711bp YoY▼ -559bp QoQ
Net Margin
19.3%
▼ -536bp YoY▼ -385bp QoQ
ROE
5.4%
Total Assets
$43.3B
EPS (Diluted)
$0.38
▼ -17.4% YoY▼ -13.6% QoQ
Operating Cash Flow
$1.3B
▼ -20.7% YoY▲ +110.6% QoQ
Source: XBRL data from CSX Corporation Q3 2025 10-Q filing on SEC EDGAR. All figures in USD.
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