CSX CFO Discusses Financial Performance At Deutsche Bank Global Conference
JACKSONVILLE, Fla., June 12, 2013
JACKSONVILLE, Fla., June 12, 2013 /PRNewswire/ --CSX Executive Vice President
and Chief Financial Officer Fredrik Eliasson today discussed the company's
financial track record and long-term expectations with analysts at the
Deutsche Bank Global Industrials and Basic Materials Conference in Chicago.
"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.
As previously stated, the company expects earnings per share to be flat to
slightly down from 2012 levels, with growth in the intermodal and merchandise
businesses, which represents about 80 percent of the company's business,
helping to offset declines in its coal market, which is in the second year of
a two-year transition period.
Going forward, the company expects average annual earnings per share growth of
10 to 15 percent off of its 2013 base, and is targeting a high-60s operating
ratio by 2015, with a continued focus on achieving a mid-60s operating ratio
longer-term. Underscoring the company's confidence in driving long-term
profitable growth, Eliasson also reiterated CSX's guidance in deploying cash
for shareholders, including a shareholder dividend increase, a new
billion-dollar share repurchase program over 24 months, and capital investment
of $2.3 billion this year.
In addition to his Deutsche Bank discussion, Eliasson recently appeared on the
"Bloomberg Surveillance" television and radio program to discuss the
renaissance in the rail industry and CSX's balanced approach to creating
shareholder value. To view the interview, visit
For more information about CSX's growth and balanced capital approach, visit
CSX, based inJacksonville, Florida, is a premier transportation company. It
provides rail, intermodal and rail-to-truck transload services and solutions
to customers across a broad array of markets, including energy, industrial,
construction, agricultural, and consumer products. For more than 185 years,
CSX has played a critical role in the nation's economic expansion and
industrial development. Its network connects every major metropolitan area in
the easternUnited States, where nearly two-thirds of the nation's population
resides. It also links more than 240 short-line railroads and more than 70
ocean, river and lake ports with major population centers and small farming
towns alike. More information aboutCSX Corporationand its subsidiaries is
available atwww.csx.com. Like us
onFacebook(http://www.facebook.com/OfficialCSX) and follow us on Twitter
SOURCE CSX Transportation Inc.
Contact: David Baggs, Investor Relations, 904-359-4812, or Melanie Cost,
Corporate Communications, 877-835-5279
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