CSX Recognized as Industry Service Leader
22 Janeiro 2024 - 12:00PM
CSX (NASDAQ: CSX) was named the recipient of the inaugural W.F.
Thompson Award for Class I Operating Performance for 2023,
highlighting CSX’s success in driving its growth strategy by
leveraging strong operational execution. The award, presented by
the analyst firm, Loop Capital, is designed to recognize the Class
I railroad with the best operational performance in a calendar
year.
“By any measure, CSX had a strong year in 2023,” said Rick
Paterson, managing director of Loop Capital, in his final 2023
weekly report on rail operational and service trends. “[CSX] was
the first of the four U.S. Class I railroads to recover from the
2022 Service Crisis, by a wide margin, and quickly locked in strong
and remarkably consistent operating performance over the course of
the year.”
Paterson highlighted that CSX's average network train velocity
last year was its highest ever recorded, demonstrating minimal
week-to-week volatility. He further noted that CSX reduced terminal
dwell in 2023, ending the year with an average dwell that ranks
third best in the company’s history.
The high velocity and reduced dwell significantly contributed to
the consistent on-time delivery of customers' freight.
CSX has continued to perform at a high level in 2024, recording
an average train velocity of 19.3 miles per hour across the system
in the first week, a 5% improvement compared to the first week of
2023.
Mike Cory, CSX executive vice president and chief operating
officer, attributed the railroad’s consistent service excellence to
a robust operating model that strives for excellence in safety,
service and efficiency, which can only be truly achieved through
the strengthening ONE CSX culture that underpins and enables the
company’s performance.
“The CSX railroading model has been pivotal for service
improvement, and our ONE CSX transformation of the railroad culture
is taking hold and driving us to new levels of performance,” Cory
said. "As we navigate past pandemic-induced supply chain
challenges, I am confident that our culture of collaboration will
help us further improve our performance metrics in 2024."
Cory emphasized that the company's strong service performance is
integral to its strategy of business growth, which involves
converting shipments from truck to rail and attracting new customer
facilities to rail-served properties.
For additional information on CSX service performance, visit
www.csx.com.
About CSX
CSX, based in Jacksonville, 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 nearly 200 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 eastern United 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 farming towns alike.
Contact:
Matthew Korn, CFA, Investor
Relations904-366-4515
Bryan Tucker, Corporate
Communications855-955-6397
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