Filing Flows › CSX (CSX) › Q1 2026
CSX (CSX) Q1 2026 earnings results (first quarter 2026)
10-Q filed Apr 22, 2026
CSX (CSX) reported revenue of $3.5B for the first quarter 2026 (Q1 2026), +2% from a year earlier and -0.7% from the quarter before. Operating margin was 36.0%, net earnings $807M (23.2% of revenue).
CSX, Q1 2026: revenue $3.5B (+2% year over year), operating margin 36.0%, net earnings $807M, operating cash flow $1.3B. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $3.5B | -0.7% | +2% |
| Operating profit | $1.3B | +13% | +20% |
| Net earnings | $807M | +12% | +25% |
| Operating cash flow | $1.3B | -8% | +1% |
| Free cash flow | $729M | +3% | +36% |
What changed
Revenue was $3.5B in Q1 2026, up 2% year over year and down 1% from the previous quarter. Chemicals was the largest line at 21% of revenue. Intermodal added $0.03B year over year (up 5%), 42% of the total change. Forest Products declined 8%.
Operating profit was $1.3B, a 36.0% margin (up 5.6 points year over year). Of the extra revenue versus Q1 2025, 359% reached operating profit, above the 30% margin then. Total costs fell 6% while revenue rose 2%. Net earnings were $0.81B, up 25% year over year. The effective tax rate was 24.1%.
Operating cash flow was $1.3B (up 1% year over year), 158% of net earnings. Non-cash charges added back $0.41B of depreciation and amortization and $0.01B of share-based compensation. Capital expenditures of $0.54B left free cash flow of $0.73B.
Questions
What was CSX's revenue in the first quarter 2026?
CSX (CSX) reported revenue of $3.5B for the first quarter 2026 (Q1 2026), +2% from a year earlier and -0.7% from the quarter before.
Was CSX profitable in the first quarter 2026?
Operating profit was $1.3B (36.0% of revenue) and net earnings $807M.
Source: CSX 10-Q on SEC EDGAR.