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CSX CORPORATION

(CSX)
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CSX : 2021 Q2 Earnings Presentation

07/21/2021 | 04:08pm EDT

2021 SECOND QUARTER EARNINGS CONFERENCE CALL

07.21.2021

FORWARD LOOKING DISCLOSURE

This information and other statements by the company may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act with respect to, among other items: projections and estimates of earnings, revenues, margins, volumes, rates, cost-savings, expenses, taxes, liquidity, capital expenditures, dividends, share repurchases or other financial items, statements of management's plans, strategies and objectives for future operations, and management's expectations as to future performance and operations and the time by which objectives will be achieved, statements concerning proposed new services, and statements regarding future economic, industry or market conditions or performance. Forward-looking statements are typically identified by words or phrases such as "will," "should," "believe," "expect," "anticipate," "project," "estimate," "preliminary" and similar expressions. Forward-looking statements speak only as of the date they are made, and the company undertakes no obligation to update or revise any forward-looking statement. If the company updates any forward-looking statement, no inference should be drawn that the company will make additional updates with respect to that statement or any other forward-looking statements.

Forward-looking statements are subject to a number of risks and uncertainties, and actual performance or results could differ materially from that anticipated by any forward-looking statements. Factors that may cause actual results to differ materially from those contemplated by any forward- looking statements include, among others; (i) the company's success in implementing its financial and operational initiatives; (ii) changes in domestic or international economic, political or business conditions, including those affecting the transportation industry (such as the impact of industry competition, conditions, performance and consolidation); (iii) legislative or regulatory changes; (iv) the inherent business risks associated with safety and security; (v) the outcome of claims and litigation involving or affecting the company; (vi) natural events such as severe weather conditions or pandemic health crises; and (vii) the inherent uncertainty associated with projecting economic and business conditions.

Other important assumptions and factors that could cause actual results to differ materially from those in the forward-looking statements are specified in the company's SEC reports, accessible on the SEC's website at www.sec.gov and the company's website at www.csx.com.

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NON-GAAP MEASURES DISCLOSURE

CSX reports its financial results in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP). CSX also uses certain non-GAAP measures that fall within the meaning of Securities and Exchange Commission Regulation G and Regulation S-K Item 10(e), which may provide users of the financial information with additional meaningful comparison to prior reported results.

Non-GAAP measures do not have standardized definitions and are not defined by U.S. GAAP. Therefore, CSX's non-GAAP measures are unlikely to be comparable to similar measures presented by other companies. The presentation of these non-GAAP measures should not be considered in isolation from, as a substitute for, or as superior to the financial information presented in accordance with GAAP. Reconciliations of non-GAAP measures to corresponding GAAP measures are attached hereto in the Appendix of this presentation.

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EXECUTIVE SUMMARY

James M. Foote

President and Chief Executive Officer

SECOND QUARTER HIGHLIGHTS

1,591K$2,990M

VolumeRevenue

$1,691M

Op. Income

Operating Income

Operating Ratio

Earnings Per Share

Q2 results reflect strong rebound from prior year COVID-19 impacts

$1,691M

$828M

Q2 20

Q2 21

63.3%

43.4%

Q2 20

Q2 21

$0.52

$0.22

Q2 20

Q2 21

Results include benefits from sale of certain property rights to Virginia for passenger rail operations

  • $349M operating income
  • 11.7% points of operating ratio
  • $0.12 earnings per share

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This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

CSX Corporation published this content on 21 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 July 2021 20:07:08 UTC.


© Publicnow 2021
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James M. Foote President, Chief Executive Officer & Director
Sean R. Pelkey Chief Financial Officer & Vice President
John J. Zillmer Non-Executive Chairman
Ricky E. Johnson Senior Vice President-Engineering & Mechanical
Kathleen Brandt Chief Information Officer & Senior Vice President