CSX Announces Increase In Share Repurchase Program - Quick Facts

(RTTNews) - CSX Corp. (CSX) announced its Board has authorized an additional $500 million for the current share repurchase program, which now totals $1.5 billion. As part of this program, nearly $500 million of company shares were repurchased in the second quarter. The company said it is currently evaluating cash deployment strategy with respect to capital structure and shareholder distributions, and is committed to an investment grade rating.

CSX said it is intensely focused on implementing Precision Scheduled Railroading throughout the system. The company is on track to achieve record efficiency gains and a step-function improvement in its key financial measures for the year.

Adjusting for restructuring charges, CSX continues to expect to drive a full-year operating ratio in the mid-60s, earnings per share growth of around 25 percent off the 2016 reported base of $1.81, and free cash flow before dividends of around $1.5 billion.