Filing Flows › CSX (CSX) › Q2 2026 › vs Q1 2026
CSX (CSX) Q2 2026 vs Q1 2026 (quarter over quarter)
CSX's revenue rose $453M (+13%) from $3.5B in Q1 2026 to $3.9B in Q2 2026. The biggest changes: Total Merchandise +$329M (+16%); Chemicals +$52.0M (+7%); Minerals +$50.0M (+26%). Operating margin 38.3% against 36.0% (+2.3 pts).
CSX, Q2 2026: revenue $3.9B (+10% year over year), operating margin 38.3%, net earnings $1.0B, operating cash flow $1.3B. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Operating margin | 38.3% | 36.0% | +2.3 pts |
| Net margin | 25.5% | 23.2% | +2.3 pts |
| Free cash flow margin | 19.1% | 20.9% | -1.9 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Intermodal | $620M | $518M | $102M | +20% |
| Coal | $520M | $458M | $62.0M | +14% |
| Agricultural and Food Products | $444M | $409M | $35.0M | +9% |
| Automotive | $332M | $275M | $57.0M | +21% |
| Forest Products | $266M | $229M | $37.0M | +16% |
| Metals and Equipment | $256M | $220M | $36.0M | +16% |
| Total Merchandise | $2.4B | $2.1B | $329M | +16% |
| Chemicals | $774M | $722M | $52.0M | +7% |
| Minerals | $242M | $192M | $50.0M | +26% |
| Trucking | $226M | $202M | $24.0M | +12% |
| Fertilizers | $132M | $141M | −$9.0M | -6% |
| Other | $123M | $116M | $7.0M | +6% |
| Revenue | $3.9B | $3.5B | $453M | +13% |
| Operating profit | $1.5B | $1.3B | $253M | +20% |
| Costs & expenses | $2.4B | $2.2B | $200M | +9% |
| Pre-tax earnings | $1.3B | $1.1B | $257M | +24% |
| Other expense, net | $186M | $190M | −$4.0M | -2% |
| Net earnings | $1.0B | $807M | $195M | +24% |
| Income tax | $318M | $256M | $62.0M | +24% |
| Depreciation & amortization | $411M | $415M | −$4.0M | -1% |
| Share-based compensation | $27.0M | $13.0M | $14.0M | +108% |
| Working capital & other | $113M | −$37.0M | $150M | — |
| Operating cash flow | $1.3B | $1.3B | $55.0M | +4% |
| Free cash flow (OCF − capex) | $751M | $729M | $22.0M | +3% |
| Capital expenditures | $576M | $543M | $33.0M | +6% |
Questions
How much did CSX's revenue grow quarter over quarter in Q2 2026?
CSX's revenue rose $453M (+13%) from $3.5B in Q1 2026 to $3.9B in Q2 2026.
What drove CSX's revenue change in Q2 2026?
Total Merchandise +$329M (+16%); Chemicals +$52.0M (+7%); Minerals +$50.0M (+26%).