CSX Corporation (CSX) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Thank you, Krista. Hello and good afternoon, everyone. We're very pleased to have you join our first quarter conference call. Joining me from the leadership team are Joe Hendricks, President and Chief Executive Officer, Mike Corey, EVP and Chief Operating Officer, Kevin Boone, EVP and Chief Commercial Officer, and Sean Pelkey, EVP and Chief Financial Officer. In the presentation accompanying this call, which is available on our website, you will find slides with our forward-looking disclosures and our non-GAAP disclosures for your review. With that, it is now my pleasure to introduce Mr. Joe Hendricks. Joe Hendricks All right. Thank you, Matthew, and whoever won. Thank you for joining our first quarter call. Since I came to CSX, we have been clear about our commitment to lead with service. Consistent, reliable, excellent service is what shareholders, strengthens our relationships with customers, expands our markets, and ultimately drives proper growth. Now fulfill that commitment this quarter. The start of the year typically brings operational challenges that we manage the network through the worst of winter weather. These challenges will be more difficult this year because of the constraints associated with our two major infrastructure projects, the Howard Street Tunnel and the Blue Ridge Subdivision rebuild. Unfortunately, our performance fell short of our expectations. As a result, we left good business on the table, reduced our revenues, and our inefficiencies meant we incurred more expense. We take full accountability for our performance this quarter, and we are not standing still. The team is aligned, our expectations are clear, and we are taking actions to stabilize our operations, improve efficiency, and enhance coordination across the entire OneCSX team. All...