Csx Corporation · NASDAQ:CSX
Csx — 2025 JP Morgan Industrials Conference
8 slides from Csx's conference presentation, Mar 11, 2025
Slide 1: 2025 JP Morgan Industrials Conference
2025 JP MORGAN INDUSTRIALS CONFERENCE Sean Pelkey Executive Vice President & Chief Financial Officer 3.11.2025
Slide 2: Forward Looking Disclosure
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
Slide 3: Volume in-line with historic seasonality, despite weather
Volume in-line with historic seasonality, despite weather January Average Daily Volume vs. Q4 Daily Average February Average Daily Volume vs. Q4 Daily Average 2016 – 2024 History 2016 – 2024 History Historical Range Average (Mean) 2025 Historical Range Average (Mean) 2025 115% 115% 110% 110% 105% 10
Slide 4: Market conditions mixed amidst uncertainty
Market conditions mixed amidst uncertainty Tentative Relatively Positive Start Flat Opening Forest Automotive Domestic Products Intermodal Domestic Coal Chemicals International Intermodal Export Coal Minerals Ag & Food Metals & Fertilizers Equipment 2025 JP MORGAN INDUSTRIALS CONFERENCE 4
Slide 5: Efficient operations remain a key focus
Efficient operations remain a key focus CSX Road Crew Starts Purchased Services and Other Expense + Rents 2023 2024 2025 per GTM % Change 12,500 2024 vs 2022 12,000 (10%) 11,500 (8%) 11,000 10,500 10,000 (5%) 9,500 (3%) 9,000 8,500 (0%) 8,000 1 5 9 13 17 21 25 29 33 37 41 45 49 CSX UP Class I Peers
Slide 6: Howard Street Tunnel will be disruptive in the short term
Howard Street Tunnel will be disruptive in the short term ▪ Large scale, technically complex project – Tunnel is ~8,700 feet in length, more than 100 years old, runs through downtown Baltimore ▪ Tunnel closure requires re-routing of almost 10% of daily line-of-road trains on network – Howard Street
Slide 7: CSX will gain long-term efficiency after completion
CSX will gain long-term efficiency after completion ▪ Ability to double-stack adds Intermodal capacity and reduces operating costs Buffalo Selkirk – CSX’s Intermodal network immediately becomes more efficient and competitive vs. truck NY/NJ ▪ Together with Cumberland, benefits also Chicago Willard P
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