Filing Flows › CSX (CSX) › Q3 2025
CSX (CSX) Q3 2025 earnings results (third quarter 2025)
10-Q filed Oct 16, 2025
CSX (CSX) reported revenue of $3.6B for the third quarter 2025 (Q3 2025), -0.9% from a year earlier and +0.4% from the quarter before. Operating margin was 30.3%, net earnings $694M (19.3% of revenue).
CSX, Q3 2025: revenue $3.6B (-0.9% year over year), operating margin 30.3%, net earnings $694M, operating cash flow $1.3B. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $3.6B | +0.4% | -0.9% |
| Operating profit | $1.1B | -15% | -20% |
| Net earnings | $694M | -16% | -22% |
| Operating cash flow | $1.3B | +111% | -21% |
| Free cash flow | $607M | — | -43% |
What changed
Revenue was $3.6B in Q3 2025, down 1% year over year and roughly flat from the previous quarter. Chemicals was the largest line at 19% of revenue. Coal lost $0.06B year over year (down 11%), 197% of the total change.
Operating profit was $1.1B, a 30.3% margin (down 7.1 points year over year). Total costs grew 10% against a revenue fall of 1%. Net earnings were $0.69B, down 22% year over year. The effective tax rate was 22.7%.
Operating cash flow was $1.3B (down 21% year over year), 193% of net earnings. Non-cash charges added back $0.42B of depreciation and amortization and $0.01B of share-based compensation. Working capital and other items added $0.20B. Capital expenditures of $0.73B left free cash flow of $0.61B.
Questions
What was CSX's revenue in the third quarter 2025?
CSX (CSX) reported revenue of $3.6B for the third quarter 2025 (Q3 2025), -0.9% from a year earlier and +0.4% from the quarter before.
Was CSX profitable in the third quarter 2025?
Operating profit was $1.1B (30.3% of revenue) and net earnings $694M.
Source: CSX 10-Q on SEC EDGAR.