CSX Corporation has recently released its 10-Q report, detailing its financial performance for the quarter. The company, together with its subsidiaries, provides rail-based freight transportation services, including intermodal transportation, bulk commodity operations, and intermodal services through a network of approximately 30 terminals. CSX operates approximately 20,000 route mile rail network, serving various population centers in 26 states east of the Mississippi River, the District of Columbia, and the Canadian provinces of Ontario and Quebec. It was incorporated in 1978 and is headquartered in Jacksonville, Florida.
In its 10-Q report, CSX discussed the success in implementing its strategic, financial, and operational initiatives, including acquisitions. It also highlighted the impact of conditions in the real estate market on the company's ability to sell assets, changes in operating conditions and costs, including the impacts of inflation or commodity concentrations, and the impacts of a public health crisis and any policies or initiatives instituted in response. The report also emphasized the inherent uncertainty associated with projecting economic and business conditions.
CSX's 10-Q report also includes quantitative and qualitative disclosures about market risk. The company provides detailed information about the market risks it faces, including interest rate risk, foreign currency exchange rate risk, and commodity price risk. This information helps investors and stakeholders understand the potential impact of market fluctuations on CSX's financial performance and operations. Following these announcements, the company's shares moved 1.5%, and are now trading at a price of $34.67. For more information, read the company's full 10-Q submission here.
