Filing Flows › CSX (CSX) › Q4 2025
CSX (CSX) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 12, 2026
CSX (CSX) reported revenue of $3.5B for the fourth quarter 2025 (Q4 2025), -0.9% from a year earlier and -2% from the quarter before. Operating margin was 31.6%, net earnings $720M (20.5% of revenue).
CSX, Q4 2025: revenue $3.5B (-0.9% year over year), operating margin 31.6%, net earnings $720M, operating cash flow $1.4B. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $3.5B | -2% | -0.9% |
| Operating profit | $1.1B | +2% | +0.4% |
| Net earnings | $720M | +4% | -2% |
| Operating cash flow | $1.4B | +4% | -0.1% |
| Free cash flow | $709M | +17% | +29% |
What changed
Revenue was $3.5B in Q4 2025, down 1% year over year and down 2% from the previous quarter. Chemicals was the largest line at 19% of revenue.
Operating profit was $1.1B, a 31.6% margin (up 0.4 points year over year). Total costs fell 1% while revenue fell 1%. Net earnings were $0.72B, down 2% year over year. The effective tax rate was 21.7%.
Operating cash flow was $1.4B (roughly flat year over year), 192% of net earnings. Non-cash charges added back $0.40B of depreciation and amortization and $0.01B of share-based compensation. Working capital and other items added $0.25B. Capital expenditures of $0.68B left free cash flow of $0.71B.
Questions
What was CSX's revenue in the fourth quarter 2025?
CSX (CSX) reported revenue of $3.5B for the fourth quarter 2025 (Q4 2025), -0.9% from a year earlier and -2% from the quarter before.
Was CSX profitable in the fourth quarter 2025?
Operating profit was $1.1B (31.6% of revenue) and net earnings $720M.
Source: CSX 10-K on SEC EDGAR.