csx corp (CSX) Key Developments
CSX Corp. Appoints Rodney J. Oglesby as Resident Vice President of State Government Affairs for Philadelphia
Apr 22 15
CSX Corporation announced the appointment of Rodney J. Oglesby as resident vice president of state government affairs for Philadelphia, New Jersey and New York City. Oglesby will oversee the company’s interactions with executive and legislative branches as well as community officials in Philadelphia, New Jersey and New York City. Oglesby reports to Randy Cheetham, regional vice president for state government and community affairs. Prior to joining CSX, Oglesby was the executive director of government relations for the School District of Philadelphia, the eighth-largest school district in the country. Before working for the School District, Oglesby was chief counsel to Pennsylvania State Senator Anthony H. Williams. Oglesby previously held positions at United Way of Southeastern Pennsylvania, General Electric Financial Assurance and Citigroup.
CSX Corp. Provides Earnings Guidance for the Second Quarter of 2015; revised earnings guidance for 2015
Apr 15 15
CSX Corp. provided earnings guidance for the second quarter of 2015. The company expects depreciation in the second quarter to increase around $10 million versus the prior year, reflecting the ongoing investment in the business. The company projects second quarter EPS to be flat to slightly up on a year-over-year basis.
With its first quarter results being less robust than originally expected and with its new projections for the second quarter, double-digit EPS growth has clearly become more challenging. As a result, the company updating its guidance to mid- to high single-digit EPS growth for the full year 2015. The best way to create shareholder value is the company's balanced approach to capital deployment and cash deployment, so the company is going to spend $2.5 billion in 2015.
CSX Corporation Announces Quarterly Dividend, Payable on June 15, 2015
Apr 15 15
CSX Corporation's Board of Directors has approved an increase in the quarterly dividend. The 13% increase in the dividend, to $0.18 per share, is payable on June 15, 2015 to
shareholders of record at the close of business on May 29, 2015.
CSX Corp. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended Mar. 27, 2015
Apr 14 15
CSX Corp. reported unaudited consolidated earnings results for the first quarter ended Mar. 27, 2015. For the quarter, the company reported revenue of $3,027 million against $3,012 million a year ago. Operating income was $843 million against $739 million a year ago. Earnings before income taxes were $711 million against $606 million a year ago. Net earnings were $442 million or $0.45 per common share against $398 million or $0.40 per common share a year ago. Net cash provided by operating activities was $690 million against $599 million a year ago. Property additions were $598 million against $475 million a year ago. Revenue in the quarter was driven by growth across many of CSX's markets and an improved pricing environment, partially offset by the impact of low natural gas prices, lower fuel recoveries and the strong U.S. dollar.
CSX Announces Executive Changes, Effective July 1
Apr 11 15
CSX announced the appointment of new leaders of its tax and internal audit functions. Russell has been named vice president-tax, and Bryan Rhode will succeed Russell as vice president-internal audit. Russell will report to Fredrik Eliasson, executive vice president and chief financial officer, and Rhode will report to Ellen Fitzsimmons, executive vice president-law and public affairs. The appointments are effective July 1. Rhode, who will lead the internal audit team, joined CSX after substantial public service including as the Secretary of Public Safety for the Commonwealth of Virginia and as a Captain in the United States Marine Corps. He currently serves as CSX s regional vice president-state government and community affairs, with responsibility for the Mid-Atlantic region.