csx corp (CSX) Key Developments
CSX Corporation Enters into a New $1 Billion Five-Year Senior Unsecured Revolving Credit Agreement
May 28 15
On May 21, 2015, CSX Corporation entered into a new $1 billion five-year senior unsecured revolving credit agreement by and among CSX, as borrower, the lenders party thereto, and JPMorgan Chase Bank, N.A., as administrative agent. The Credit Agreement replaces the Prior Credit Agreement. Effective May 21, 2015, CSX terminated its $1 billion senior unsecured revolving credit agreement, dated as of September 30, 2011, among CSX as borrower, the lenders party thereto, and JPMorgan Chase Bank, N.A., as administrative agent, as amended. There were no outstanding borrowings under the Prior Credit Agreement at the time of its termination.
CSX Corp. Approves Appointment of David M. Moffett as Board of Director
May 12 15
CSX Corp. announced that at its AGM held on May 6, 2015, the shareholders approved appointment of David M. Moffett as Board of Director of the company.
CSX Corp. Presents at Bank of America Merrill Lynch 2015 Transportation Conference, May-14-2015 08:40 AM
May 7 15
CSX Corp. Presents at Bank of America Merrill Lynch 2015 Transportation Conference, May-14-2015 08:40 AM. Venue: The Four Seasons, Boston, Massachusetts, United States. Speakers: Fredrik J. Eliasson, Chief Financial Officer and Executive Vice President.
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.