CSX CFO Reviews Market Environment and Earnings Growth
Expectations for 2015
JACKSONVILLE, Fla. - March 4, 2015 - CSX (NYSE: CSX) Chief
Financial Officer Fredrik Eliasson today discussed the drivers of a decade of
strong financial performance for the company, updated its first-quarter market
outlook and discussed earnings expectations for 2015 at the JP Morgan Aviation,
Transportation and Industrials Conference in New York City.
At the conference, Eliasson highlighted the company's
sustained record of superior shareholder value creation over the past decade,
which leveraged its network reach and balanced portfolio of business to
overcome the global recession and transition in the energy markets. This
performance provides a strong foundation for 2015 as CSX expects its
merchandise and intermodal markets to continue to grow faster than the overall
economy.
At the same time, Eliasson indicated that CSX's domestic
coal volume is now expected to decline at least 5 percent, reflecting the
relatively mild winter weather and low natural gas prices. He also noted that
as oil prices remain low, the company expects growth in crude oil shipments to
be more moderate than originally expected.
"We continue to expect strong earnings growth in the
first quarter as merchandise and intermodal customers see growth opportunities
and recognize the value and efficiency of freight rail service," Eliasson
said. "By leveraging price and efficiency gains combined with expected
volume increases, we continue to target double-digit earnings growth for the
full-year 2015, though achieving that goal will be more challenging with the
expected decline in coal movements."
Eliasson also reinforced the foundation of the company's
strategy for creating superior shareholder value is delivering service
excellence for its customers. That allows CSX to maximize its three key value
levers: growing its merchandise and intermodal business faster than the
economy, pricing above inflation and driving efficiency in operations.
About CSX Disclosures and the Company
This announcement, as well as additional financial
information, is available on the company's website at
http://investors.csx.com. CSX also uses
social media channels to communicate information about the company. Although
social media channels are not intended to be the primary method of disclosure
for material information, it is possible that certain information CSX posts on
social media could be deemed to be material.
Therefore, we encourage investors, the media, and others
interested in the company to review the information we post on Twitter
(http://twitter.com/CSX) and on Slideshare
(http://www.slideshare.net/HowTomorrowMoves).
The social media channels used by CSX may be updated from time to time.
More information about CSX Corporation and its subsidiaries
is available at www.csx.com and on Facebook (http://www.facebook.com/OfficialCSX).
CSX, based in Jacksonville ,
Florida 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:
David Baggs, Investor Relations
904-359-4812
Melanie Cost, Corporate Communications
904-359-1702