CSX Announces Improved Progress In Implementing Precision Scheduled Railroading

(RTTNews) - CSX Corp. (CSX) said that it continues to expect free cash flow before dividends,excluding restructuring charges, of around $1.5 billion and record efficiency gains for 2017; that in light of various operating challenges in July and August 2017.

The company is refining its 2017 full-year guidance from an operating ratio in the mid-60s to an operating ratio around the high end of the mid-60s and earnings per share growth from around 25 percent to a range of 20-25 percent, in each case after excluding restructuring charges. The company has completed approximately $1.3 billion of its $1.5 billion authorized share repurchase program.

CSX President and Chief Executive Officer Hunter Harrison said, "CSX has made very good progress in the last 60 days in transitioning its operating model to Precision Scheduled Railroading,..The railroad is now returning to a normal operating rhythm, and our performance metrics are improving. .... I am confident that as CSX continues to implement the Precision Scheduled Railroading model, it will provide profound and lasting benefits to customers, employees and shareholders."

This improvement and the company's views will be described in detail by Frank Lonegro, CSX's executive vice president and chief financial officer, at the Cowen and Company's 10th Annual Global Transportation conference in Boston, Mass.