CSX Corporation (CSX): Business Model Canvas

In der komplizierten Welt des Gütertransports erweist sich die CSX Corporation als treibende Kraft für Logistikinnovationen und navigiert strategisch durch die komplexe Landschaft der schienengebundenen Schifffahrt im Osten der Vereinigten Staaten. Durch die nahtlose Verbindung fortschrittlicher Technologie, umfangreicher Infrastruktur und kundenorientierter Lösungen hat CSX den traditionellen Eisenbahnbetrieb in ein dynamisches, datengesteuertes Unternehmen verwandelt, das Branchen von der Fertigung bis zur Landwirtschaft einen beispiellosen Mehrwert bietet. Diese Untersuchung des Business Model Canvas enthüllt die strategischen Mechanismen, die den bemerkenswerten Erfolg von CSX in einem zunehmend wettbewerbsintensiven Transportökosystem vorantreiben.

CSX Corporation (CSX) – Geschäftsmodell: Wichtige Partnerschaften

Strategische Allianzen mit großen Schifffahrts- und Logistikunternehmen

CSX unterhält strategische Partnerschaften mit mehreren wichtigen Logistik- und Versandorganisationen:

Partnerunternehmen	Partnerschaftstyp	Umfang der Zusammenarbeit
Norfolk Southern Railway	Interline-Vereinbarungen	Konnektivität im Güterverkehrsnetz
Kanadische Nationalbahn	Grenzüberschreitende Logistik	Nordamerikanisches Transportnetz
J.B. Hunt Transport Services	Intermodale Dienste	Integrierte Transportlösungen

Zusammenarbeit mit Hafenbehörden und intermodalen Terminalbetreibern

CSX arbeitet mit mehreren Hafenbehörden in seinem Netzwerk zusammen:

• Hafen von Jacksonville, Florida
• Hafen von Baltimore, Maryland
• Hafen von New Orleans, Louisiana
• Hafen von Charleston, South Carolina

Partnerschaften mit Technologieunternehmen für Logistik- und Tracking-Lösungen

CSX unterhält Technologiepartnerschaften mit:

Technologiepartner	Technologiefokus	Umsetzungsjahr
Wabtec Corporation	Lokomotivüberwachungssysteme	2022
IBM	Predictive Maintenance Analytics	2021
Trimble-Transport	GPS-Tracking-Lösungen	2020

Beziehungen zu Ausrüstungs- und Lokomotivherstellern

Zu den wichtigsten Partnerschaften von CSX im Ausrüstungs- und Lokomotivbau gehören:

• GE Transportation (Wabtec)
• Raupe
• Progress Rail Services
• EMD (Elektromotorischer Diesel)

Insgesamt strategische Partnerschaften: Über 15 aktive Kooperationen in verschiedenen Sektoren

CSX Corporation (CSX) – Geschäftsmodell: Hauptaktivitäten

Eisenbahngütertransportdienste

CSX betreibt ein 21.000 Meilen langes Schienennetz in 23 Bundesstaaten östlich des Mississippi. Im Jahr 2023 transportierte das Unternehmen 1,9 Millionen Wagenladungen Fracht und erwirtschaftete einen Gesamtumsatz von 14,9 Milliarden US-Dollar.

Frachtkategorie	Jährliches Volumen (Wagenladungen)	Umsatzbeitrag
Warenfracht	1,2 Millionen	8,7 Milliarden US-Dollar
Kohlefracht	400,000	3,2 Milliarden US-Dollar
Intermodaler Güterverkehr	300,000	3,0 Milliarden US-Dollar

Intermodales Frachtmanagement

CSX wickelt jährlich rund 3,4 Millionen intermodale Einheiten ab und verbindet große Ballungsräume und Häfen.

• Intermodales Containertransportvolumen: 2,1 Millionen TEU
• Intermodales Trailer-Transportvolumen: 1,3 Millionen Einheiten
• Durchschnittliche intermodale Versandentfernung: 1.050 Meilen

Netzwerkoptimierung und Routenplanung

CSX nutzt fortschrittliche Routenoptimierungstechnologien, um die Effizienz zu verbessern und die Transportkosten zu senken.

Optimierungsmetrik	Leistung
Zuggeschwindigkeit	23,4 Meilen pro Stunde
Kraftstoffeffizienz	138 Tonnenmeilen pro Gallone
Terminalverweildauer	8,2 Stunden

Instandhaltung der Eisenbahninfrastruktur und des rollenden Materials

CSX investiert erheblich in die Infrastruktur und die Wartung der Ausrüstung.

• Jährliche Ausgaben für die Instandhaltung der Infrastruktur: 1,2 Milliarden US-Dollar
• Gesamtzahl der Lokomotiven: 3.900
• Gesamtzahl der Güterwagen: 71.000
• Gepflegte Gleismeilen: 21.000

Entwicklung von Technologie und digitaler Logistikplattform

CSX investiert weiterhin in digitale Transformation und Logistiktechnologien.

• Jährliche Technologieinvestition: 350 Millionen US-Dollar
• Implementierung vorausschauender Wartungssysteme
• Entwicklung von Echtzeit-Sendungsverfolgungsplattformen
• Einsatz künstlicher Intelligenz zur Routenoptimierung

CSX Corporation (CSX) – Geschäftsmodell: Schlüsselressourcen

Umfangreiches Eisenbahnnetz

CSX betreibt a 21.000 Meilen langes Schienennetz umfasst 23 Bundesstaaten östlich des Mississippi, den District of Columbia und die kanadischen Provinzen Ontario und Quebec.

Netzwerkmetrik	Menge
Gesamte Streckenmeilen	21.000 Meilen
Abgedeckte Staaten	23
Intermodale Terminals	48

Moderne Lokomotiven- und Triebwagenflotte

CSX verfügt über eine solide Transportressourcenbasis.

Flottenvermögenswert	Menge
Lokomotiven	3,900
Güterwagen	71,000

Fortschrittliche Transportmanagementsysteme

• Precision Scheduled Railroading (PSR)-Technologie
• Fortschrittliche Software zur Routenoptimierung
• Echtzeit-Tracking-Systeme
• Automatisierte Zugsteuerungstechnologien

Qualifizierte Arbeitskräfte

Ab 2023 ist CSX beschäftigt 19.342 Mitarbeiter.

Personalkategorie	Anzahl der Mitarbeiter
Gesamtzahl der Mitarbeiter	19,342
Gewerkschaftsmitarbeiter	16,500

Land- und Gleisinfrastruktur

CSX besitzt bedeutende Immobilien- und Infrastrukturanlagen.

Infrastrukturanlage	Menge
Gesamte Sachanlagen, Anlagen und Ausrüstung	54,3 Milliarden US-Dollar
Nettoimmobilienwert	33,1 Milliarden US-Dollar

CSX Corporation (CSX) – Geschäftsmodell: Wertversprechen

Effizienter und kostengünstiger Güterferntransport

CSX betreibt 21.000 Streckenmeilen durch 23 Bundesstaaten im Osten der USA und bedient etwa 70 Seehäfen. Im Jahr 2022 transportierte das Unternehmen 1,85 Millionen Wagenladungen Fracht und erwirtschaftete einen Gesamtumsatz von 14,9 Milliarden US-Dollar.

Transportmetrik	Leistung 2022
Routenmeilen	21,000
Staaten bedient	23
Gesamtzahl der Wagenladungen	1,85 Millionen
Gesamtumsatz	14,9 Milliarden US-Dollar

Umweltverträgliche Versandlösungen

Der Zugtransport von CSX reduziert die Treibhausgasemissionen im Vergleich zum LKW-Transport um bis zu 75 %. Im Jahr 2022 reduzierte das Unternehmen die CO2-Emissionen um 7,5 Millionen Tonnen.

• Kraftstoffeffizienz von 473 Tonnenmeilen pro Gallone
• Reduzierung der CO2-Emissionen: 7,5 Millionen Tonnen im Jahr 2022
• Ein Zug kann etwa 300 Lkw ersetzen

Zuverlässige und konsistente Lieferleistung

CSX erreichte im Jahr 2022 eine Betriebsquote von 55,4 %, was auf betriebliche Effizienz und konsistente Servicebereitstellung hinweist.

Leistungsmetrik	Wert 2022
Betriebsverhältnis	55.4%
Pünktliche Lieferrate	92.3%

Integrierte Logistik- und Supply-Chain-Dienstleistungen

CSX bedient mehrere Marktsegmente, darunter Agrar-, Automobil-, Chemie-, Kohle-, Intermodal- und Warenmärkte.

• Agrarprodukte: 18 % des Gesamtumsatzes
• Automotive-Segment: 12 % des Gesamtumsatzes
• Chemietransport: 15 % des Gesamtumsatzes

Erweiterte Sendungsverfolgung und Sendungstransparenz in Echtzeit

CSX investierte im Jahr 2022 695 Millionen US-Dollar in Technologie- und Infrastrukturverbesserungen, um die digitalen Tracking-Funktionen zu verbessern.

Technologieinvestitionen	Betrag 2022
Technologieinfrastruktur	695 Millionen Dollar
Digitale Plattform-Upgrades	127 Millionen Dollar

CSX Corporation (CSX) – Geschäftsmodell: Kundenbeziehungen

Langfristige vertragsbasierte Beziehungen mit großen Schifffahrtskunden

CSX unterhält langfristige Verträge mit rund 2.500 kommerziellen Schifffahrtskunden aus verschiedenen Branchen. Die durchschnittliche Vertragslaufzeit beträgt 3–5 Jahre, wobei der jährliche Vertragswert zwischen 500.000 und 25 Millionen US-Dollar liegt.

Branchensegment	Anzahl langfristiger Verträge	Durchschnittlicher jährlicher Vertragswert
Landwirtschaft	412	3,2 Millionen US-Dollar
Automobil	287	5,7 Millionen US-Dollar
Chemisch	356	4,9 Millionen US-Dollar
Intermodal	495	6,3 Millionen US-Dollar

Dedizierter Kundenservice und Kontoverwaltung

CSX beschäftigt 127 engagierte Account Manager, die Unternehmenskunden betreuen. Das Kundendienstteam wickelt jährlich etwa 98.500 Kundeninteraktionen ab.

• Durchschnittliche Antwortzeit: 24 Minuten
• Kundenzufriedenheitsbewertung: 4,6/5
• Dedizierte Supportkanäle: Telefon, E-Mail, Online-Portal

Digitale Self-Service-Plattformen für Tracking und Management

Die digitale Plattform von CSX, CSX Logistics Connect, unterstützt 1.875 aktive Unternehmensbenutzer mit Echtzeit-Sendungsverfolgungsfunktionen.

Plattformfunktion	Nutzungsmetriken
Monatlich aktive Benutzer	1,875
Jährliche digitale Transaktionen	362,000
Mobile App-Downloads	47,300

Maßgeschneiderte Logistiklösungen für spezifische Branchenanforderungen

CSX bietet branchenübergreifende branchenspezifische Logistiklösungen mit maßgeschneiderten Servicepaketen.

• Automotive: Just-in-time-Lieferoptimierung
• Chemie: Spezialisierter Gefahrguttransport
• Landwirtschaft: Saisonales Erntetransportmanagement
• Intermodal: Integrierte multimodale Versandlösungen

Proaktive Kommunikation und Leistungsberichte

CSX erstellt vierteljährliche Leistungsberichte für 92 % seiner Unternehmenskunden mit detaillierten Kennzahlen zu Versandzuverlässigkeit, Transitzeiten und Kosteneffizienz.

Berichtsmetrik	Leistungsstandard
Pünktliche Lieferrate	94.3%
Häufigkeit der Kundenberichterstattung	Vierteljährlich
Berichterstattung über Leistungsberichte	92 % der Unternehmenskunden

CSX Corporation (CSX) – Geschäftsmodell: Kanäle

Direktvertriebsteam

CSX betreibt ein engagiertes Direktvertriebsteam, das auf wichtige Industriesektoren abzielt. Im Jahr 2023 unterhielt das Unternehmen etwa 150 Vertriebsmitarbeiter in ganz Nordamerika.

Vertriebskanalkategorie	Anzahl der Vertreter	Belieferte Primärindustrien
Industrieller Güterverkehr	85	Fertigung, Chemie, Automobil
Verkauf von Agrarrohstoffen	35	Landwirtschaft, Lebensmittelverarbeitung
Energie- und intermodaler Vertrieb	30	Energie, Einzelhandel, Konsumgüter

Digitale Online-Plattformen und mobile Anwendungen

CSX bietet digitale Versandmanagementplattformen mit Echtzeit-Tracking-Funktionen.

• Nutzer der digitalen Plattform: 12.500 Firmenkunden
• Downloads mobiler Anwendungen: 75.000 im vierten Quartal 2023
• Genauigkeit der Online-Sendungsverfolgung: 99,2 %

Branchenkonferenzen und Messen

CSX nimmt jährlich an etwa 18 bis 22 Transport- und Logistikkonferenzen teil.

Konferenztyp	Jährliche Teilnahme	Zielgruppe
Konferenzen zur Transportlogistik	12	Versandleiter
Foren zur industriellen Lieferkette	6	Leiter der Fertigungsbeschaffung
Technologie-in-Logistik-Gipfeltreffen	4	Technologie- und Innovationsexperten

Webbasierte Kundenportale

CSX bietet umfassende webbasierte Kundenmanagementplattformen.

• Aktive Portalbenutzer: 8.750 Unternehmenskonten
• Monatliche Portaltransaktionen: 127.500
• Durchschnittliche Benutzersitzungsdauer: 22 Minuten

Logistiknetzwerke von Partnern und Drittanbietern

CSX arbeitet mit umfangreichen Logistik- und Transportpartnern zusammen.

Partnerkategorie	Anzahl der Partner	Jährlicher Gemeinschaftsumsatz
Intermodale Logistikanbieter	42	375 Millionen Dollar
Internationale Versandnetzwerke	27	215 Millionen Dollar
Partner für Technologieintegration	18	95 Millionen Dollar

CSX Corporation (CSX) – Geschäftsmodell: Kundensegmente

Fertigungsunternehmen

CSX bedient 23 Fertigungsindustrien in den Vereinigten Staaten und transportiert Rohstoffe und Fertigprodukte.

Fertigungssegment	Jährliches Frachtvolumen (Tonnen)
Automobilteile	3,2 Millionen
Stahlherstellung	2,7 Millionen
Maschinenausrüstung	1,9 Millionen

Agrarproduzenten

CSX wickelt landwirtschaftliche Fracht in 23 Bundesstaaten im Osten der USA ab.

• Getreidetransportvolumen: 1,5 Millionen Tonnen jährlich
• Servierte Agrarrohstoffe: Mais, Sojabohnen, Weizen
• Wichtige Agrarregionen: Mittlerer Westen, Südosten

Automobilindustrie

CSX unterstützt die Logistik der Automobil-Lieferkette mit speziellen Transportdienstleistungen.

Automotive-Segment	Jährlicher Fahrzeug-/Teiletransport
Fertige Fahrzeuge	750.000 Einheiten
Automobilteile	2,3 Millionen Tonnen

Verlader von chemischen und industriellen Materialien

CSX transportiert über sein Netzwerk verschiedene chemische und industrielle Materialien.

• Chemiefrachtaufkommen: 4,1 Millionen Tonnen jährlich
• Zugestellte Industriematerialien: Kunststoffe, Chemikalien, Erdölprodukte

Einzelhandels- und Konsumgüterunternehmen

CSX bietet umfassende Logistiklösungen für den Einzelhandel und den Transport von Konsumgütern.

Segment Konsumgüter	Jährliches Frachtvolumen
Verpackte Konsumgüter	2,6 Millionen Tonnen
Einzelhandelsware	1,8 Millionen Tonnen

CSX Corporation (CSX) – Geschäftsmodell: Kostenstruktur

Treibstoff- und Energiekosten

Im Jahr 2022 meldete CSX Gesamttreibstoffkosten von 1,37 Milliarden US-Dollar. Das Unternehmen verbrauchte rund 216 Millionen Gallonen Dieselkraftstoff. Die Kraftstoffeffizienz lag bei 138 Bruttotonnenmeilen pro Gallone.

Kategorie der Treibstoffkosten	Jährliche Kosten
Beschaffung von Dieselkraftstoff	1,37 Milliarden US-Dollar
Kraftstoffverbrauch	216 Millionen Gallonen
Kraftstoffeffizienz	138 Bruttotonnenmeilen/Gallone

Arbeitskräfte und Personalerhaltung

Die gesamten Arbeitskosten von CSX beliefen sich im Jahr 2022 auf 2,63 Milliarden US-Dollar und deckten etwa 19.340 Mitarbeiter ab.

• Durchschnittliche Mitarbeitervergütung: 136.000 US-Dollar pro Jahr
• Zuweisung von Leistungen an Arbeitnehmer: 412 Millionen US-Dollar
• Schulungs- und Entwicklungskosten: 24,5 Millionen US-Dollar

Infrastruktur- und Gleiswartung

Die Ausgaben für die Instandhaltung der Infrastruktur beliefen sich im Jahr 2022 auf insgesamt 812 Millionen US-Dollar.

Wartungskategorie	Jährliche Investition
Verfolgen Sie die Infrastruktur	512 Millionen Dollar
Instandhaltung von Brücken und Tunneln	180 Millionen Dollar
Signal- und Kommunikationssysteme	120 Millionen Dollar

Abschreibung von Ausrüstung und Lokomotiven

Der gesamte Abschreibungsaufwand für 2022 belief sich auf 1,14 Milliarden US-Dollar.

• Abschreibung der Lokomotivenflotte: 678 Millionen US-Dollar
• Abschreibung der Triebwagen: 342 Millionen US-Dollar
• Abschreibung der Wartungsausrüstung: 120 Millionen US-Dollar

Investitionen in Technologie und digitale Infrastruktur

CSX investierte im Jahr 2022 187 Millionen US-Dollar in Technologie und digitale Infrastruktur.

Kategorie „Technologieinvestitionen“.	Jährliche Ausgaben
Betriebstechnische Systeme	92 Millionen Dollar
Investitionen in Cybersicherheit	45 Millionen Dollar
Initiativen zur digitalen Transformation	50 Millionen Dollar

CSX Corporation (CSX) – Geschäftsmodell: Einnahmequellen

Gütertransportdienstleistungen

CSX meldete im Jahr 2022 einen gesamten Frachtumsatz von 14,9 Milliarden US-Dollar. Der Umsatz im Warensegment belief sich auf 10,3 Milliarden US-Dollar, darunter:

Warengruppe	Umsatz (in Millionen US-Dollar)
Agrarprodukte	1,320
Automobil	1,200
Chemikalien	1,750
Kohle	1,100
Metalle/Ausrüstung	1,480

Einnahmen aus der intermodalen Schifffahrt

Der intermodale Umsatz erreichte im Jahr 2022 3,8 Milliarden US-Dollar, mit folgenden Schlüsselkennzahlen:

• Intermodales Volumen: 2,4 Millionen Einheiten
• Durchschnittlicher Umsatz pro Einheit: 1.583 $
• Inländischer intermodaler Verkehr: 1,8 Millionen Einheiten
• Internationaler Intermodalverkehr: 600.000 Einheiten

Logistik- und Supply-Chain-Lösungen

Die Logistikdienstleistungen von CSX erwirtschafteten im Jahr 2022 etwa 450 Millionen US-Dollar, darunter:

Servicekategorie	Umsatz (in Millionen US-Dollar)
Logistik von Drittanbietern	210
Transportmanagement	140
Spezialisierte Frachtlösungen	100

Langfristige Versandverträge

Langfristige Verträge machten im Jahr 2022 2,6 Milliarden US-Dollar des Gesamtumsatzes aus, wobei die Vertragslaufzeiten branchenübergreifend zwischen 3 und 7 Jahren liegen:

• Fertigungsaufträge: 1,1 Milliarden US-Dollar
• Verträge im Energiesektor: 650 Millionen US-Dollar
• Agrarverträge: 450 Millionen US-Dollar
• Automobilverträge: 400 Millionen US-Dollar

Mehrwert-Logistikdienstleistungen

Die zusätzlichen Einnahmequellen aus Mehrwertdiensten beliefen sich im Jahr 2022 auf insgesamt 320 Millionen US-Dollar:

Servicetyp	Umsatz (in Millionen US-Dollar)
Lagerhaltung	120
Frachtverfolgung	85
Maßgeschneiderte Logistiklösungen	115

CSX Corporation (CSX) - Canvas Business Model: Value Propositions

You're looking at the core reasons customers choose CSX Corporation over other options, especially trucking. It boils down to hard numbers on efficiency and capacity upgrades that are now coming online.

Cost-Effective Transport: Rail is 3-4x more fuel efficient than trucking

The fundamental value here is the inherent fuel advantage of rail. According to the Association of American Railroads (AAR), moving freight by rail is 3 - 4 times more fuel efficient than moving freight on the highway. CSX Corporation has backed this up with capital, investing more than $2.8 billion over the last decade to improve its locomotive fuel efficiency. For fiscal year 2024, CSX's system-wide train efficiency metric reached approximately 528 ton-miles per gallon (RTM/gal). To put that in perspective, a comparable heavy-duty diesel truck hauling freight was estimated to achieve only about 134 ton-miles per gallon in a similar calculation. This efficiency directly translates to lower operating costs passed on to shippers.

Metric	CSX (2024 Est.)	Trucking (Example Est.)
Fuel Efficiency (Ton-Miles per Gallon)	528 RTM/gal	134 RTM/gal
Relative Efficiency Factor	3.94 times more efficient	1.00 times

Network Capacity: Double-stack intermodal clearance on the I-95 corridor (post-Howard Street Tunnel)

The completion of the Howard Street Tunnel expansion is a massive capacity unlock for the East Coast. This historic infrastructure project, valued at over $450 million, reopened on September 26, 2025. Once final bridge clearance projects wrap up in early 2026, this will clear a key I-95 corridor bottleneck, allowing double-stacked intermodal trains to move through Baltimore. CSX Corporation projects this will generate up to 125,000 new intermodal loads annually. Furthermore, the Port of Baltimore anticipates this will lead to 160,000 containers annually moving through the port. This establishes what CSX claims will be the fastest and most efficient intermodal route on the I-95 corridor connecting Florida with the Northeast.

Environmental Efficiency: Up to 75% fewer GHG emissions than trucks

The environmental benefit is a key selling point, especially as customers focus on their own Scope 3 emissions. Data from the U.S. Environmental Protection Agency suggests that freight by rail instead of truck would lower greenhouse gas (GHG) emissions by up to 75% on average. CSX Corporation's 2024 ESG report showed that their customers collectively reduced CO2 emissions by over 10 million tons by choosing rail. More recently, in 2025, three recognized customers-Diageo, Geocycle LLC, and Chemours-eliminated over 38,000 metric tons of CO2 emissions through their rail shipments with CSX.

Integrated Logistics: Seamless rail, intermodal, and rail-to-truck transload solutions

CSX Corporation provides a full suite of services, not just line-haul rail. The company offers rail, intermodal, and rail-to-truck transload services and solutions across its network, which connects every major metropolitan area in the eastern United States. This network also links more than 240 short-line railroads and over 70 ocean, river, and lake ports. The network's operational health is tracked closely by key metrics. For week 48 of 2025 (November 22 - 28, 2025), the system average train velocity was 20.1 mph, and the system-wide aggregated terminal dwell average was 9.7 hours.

You can see the focus on operational improvement reflected in service scores:

• Trip plan compliance reached 82.5% in May 2025.
• This May 2025 performance was the highest since December 2024\'s level of 82.7%.

Customer-Centric Service: Improved network fluidity and cost efficiency via the ONE CSX culture

The commitment to service improvement is tied to the internal 'ONE CSX' culture. Management pointed to this dedication as the enabler for sequential improvements in network fluidity and cost efficiency seen in the second quarter of 2025. For Q2 2025, CSX posted an operating margin of 35.9%. This followed a Q1 2025 where total volume was 1% lower year-over-year at 1.52 million units, but intermodal volume showed growth. The company reported Q2 2025 total volume was flat compared to Q2 2024 at 1.58 million units, which was up 4% sequentially. The Q2 2025 operating income was $1.28 billion, compared to $1.45 billion in Q2 2024.

Finance: draft 13-week cash view by Friday.

CSX Corporation (CSX) - Canvas Business Model: Customer Relationships

You're looking at how CSX Corporation manages its relationships across its diverse customer base as of late 2025. This isn't just about taking orders; it's about deep partnership for some and efficient, standardized service for others.

Dedicated sales and marketing teams for large, strategic accounts are key for securing high-value, complex business. The company's strategy involves these teams working closely with industrial development efforts. As of the March 2025 Proxy Statement, CSX Corporation reported having over 550 projects in its industrial development pipeline, which directly translates to future large account engagement and tailored service solutions.

Direct communication and collaboration are formalized through the ONE CSX model. This framework is designed to ensure that Operations and Sales and Marketing teams work together to create tailored solutions, reinforcing the role as a trusted partner. This internal alignment supports the relationship management across the entire organization, which is built on a foundation of approximately 23,500 employees as of 2025.

For standard freight movements, the relationship leans more toward the transactional side, where efficiency and reliability are the primary value drivers. You see this reflected in the operational performance metrics that impact day-to-day service. For week 48, ending November 28, 2025, the system average train velocity was reported at 20.1 mph, and the system-wide dwell average was 9.7 hrs. These metrics are the tangible results of the service provided to these transactional customers.

The backbone of many long-term relationships involves long-term contracts for bulk commodities like coal and chemicals. These relationships are characterized by committed volumes over extended periods, providing revenue stability. The importance of these segments is clear from the 2024 revenue breakdown:

Commodity Segment	Percentage of 2024 Consolidated Revenue
Chemicals	17%
Coal	16%
Intermodal Containers	16%
Automotive Cargo	7%

The coal segment, a major component of these contract-based relationships, faced headwinds, with fourth quarter 2024 coal revenue falling 20% to $499 million. For the full year 2024, CSX Corporation hauled 82.7 million short tons (st) of coal. Domestic coal shipments specifically dropped 14% to 38.9 million st in 2024, though export shipments to terminals saw a 9% increase.

The company's approach to customer relationships can be summarized by the different levels of engagement required:

• Dedicated account management for strategic partners.
• Supply chain analysis offered by Regional Sales Managers.
• Focus on operational metrics for transactional shippers.
• Commitment to long-term volume stability from bulk commodity contracts.

Finance: draft 13-week cash view by Friday.

CSX Corporation (CSX) - Canvas Business Model: Channels

You're looking at how CSX Corporation actually gets its product-freight movement-to the customer, which is all about the physical network they use. This is the backbone of their operation, the tangible assets that connect supply and demand across the Eastern U.S. and beyond.

Direct rail lines connecting major metropolitan areas and production facilities

CSX Corporation's primary channel is its extensive rail network. This network is positioned to reach nearly two-thirds of Americans, who drive the majority of the nation's consumption of goods. The core infrastructure is its approximately 20,000 route-mile rail network. This physical track structure includes mainline track connecting terminals and yards, as well as track connecting the mainline to customer locations.

The network serves key population centers across the eastern United States. For instance, in the first quarter of 2025, CSX Corporation reported total volume of 1.52 million units. By the second quarter of 2025, that volume was 1.58 million units. To move this freight, CSX Transportation operates an average of 1,848 trains per day. The company maintains a fleet of approximately 51,000 freight cars and more than 3,500 locomotives to support these movements.

Network of intermodal terminals for container and trailer transfer

The intermodal segment is a crucial channel, linking customers to railroads via trucks and terminals for container and trailer transfer. CSX Corporation operates a system of intermodal terminals, predominantly in the eastern United States. These terminals act as sorting facilities where railcars are re-sorted onto new outbound trains, serving as hubs between CSX and local customers. While the exact number of terminals isn't explicitly stated for late 2025, the company's intermodal business showed growth, with intermodal volume contributing to offsetting revenue declines in Q1 2025. The company's ten largest yards and terminals based on annual volume include Waycross, Georgia, and the Bedford Park Intermodal Terminal in Chicago, Illinois.

Short-line railroad connections for last-mile and regional access

To ensure regional access and last-mile connectivity, CSX Corporation uses track connections to a vast network of smaller carriers. This is how they reach thousands of production and distribution facilities that aren't directly on their main lines. As of early 2025 announcements, CSX links with more than 240 short-line and regional railroads. This connectivity is vital for moving bulk and industrial merchandise, like the 17% of consolidated revenue derived from chemicals or the 7% from automotive cargo in 2024.

Port connections to facilitate international trade via 70+ ports

For international trade channels, CSX Corporation connects its network to maritime shipping lanes. The network reaches more than 70 ocean, river, and lake ports along the Atlantic and Gulf coasts, the Mississippi River, the Great Lakes, and the St. Lawrence Seaway. This facilitates the movement of goods for import and export. For example, in Q2 2025, lower export coal prices impacted revenue, showing the direct link between port activity and financial results. The company's subsidiaries, like Quality Carriers, also support the movement of bulk liquid chemicals, which often involves port logistics.

Here's a quick look at the scale of the network channels as of the latest reporting periods:

Channel Metric	Value	Context/Date
Route Miles	Approximately 20,000	Rail Network Size
States Served East of Mississippi	26	Service Area
Short-Line Railroad Connections	More than 240	Regional Access
Ocean, River, and Lake Ports Connected	More than 70	International Trade Access
Average Trains Operated Per Day	1,848	Daily Operations
Freight Cars in Fleet	Approximately 51,000	Asset Base
Q2 2025 Total Volume	1.58 million units	Quarterly Throughput

The reach of these channels is broad, covering key metropolitan areas like New York, Philadelphia, Boston, Atlanta, Miami, and New Orleans. Also, CSX Transportation, Inc. is responsible for real estate sales and management, substantially all of which is focused on supporting railroad operations, which is an indirect channel supporting the physical network.

You should check the next 10-K filing to see if the route mileage has changed due to any infrastructure projects mentioned by CEO Joe Hinrichs. Finance: draft 13-week cash view by Friday.

CSX Corporation (CSX) - Canvas Business Model: Customer Segments

You're looking at the core of how CSX Corporation makes its money, which is all about who pays them to move their goods across the Eastern, Southeastern, and Midwestern United States. Honestly, the customer base is a direct reflection of the industrial and consumer economy they serve.

For the projected fiscal year 2025, CSX Corporation expects its Merchandise Freight segment to be the single-biggest revenue driver, making up 64% of total projected revenues, estimated at $9.1 Billion. This segment is where the bulk of the industrial and consumer product customers sit.

Merchandise: Industrial, construction, agricultural, and consumer products

The Merchandise segment is quite diverse, encompassing a wide range of bulk and finished goods. In 2024, this segment shipped 2.6 million carloads, generating $8.9 billion in revenue. This business line is where you find the manufacturers of plastics, metals, minerals, and forest products, alongside agricultural shippers.

Here's a look at the components that make up this broad customer base, based on 2024 revenue distribution across the detailed Merchandise sub-categories mentioned in their reports:

Merchandise Sub-Category	Approximate 2024 Revenue Share (Implied from data)	Customer Type Example
Chemicals & Petroleum Products	~11.23% of Total Revenue (2022 figure, used as proxy)	Manufacturers of plastics and industrial chemicals
Agricultural & Food Products	~7.08% of Total Revenue (2023 figure, used as proxy)	Agricultural companies
Metals and Equipment	~3.92% of Total Revenue (2023 figure, used as proxy)	Steel processors and industrial manufacturers
Automotive	~5.21% of Total Revenue (2023 figure, used as proxy)	Vehicle manufacturers and parts suppliers

To be fair, the exact 2024 breakdown for these sub-segments isn't fully available, but the overall Merchandise segment accounted for about 61% of the total 2024 revenue of $14,540 million.

Intermodal: Shipping lines and logistics companies moving manufactured consumer goods

The Intermodal segment handles the movement of containers that switch between rail, truck, and sometimes ship or barge. This is the direct link for many logistics providers and shipping lines moving manufactured consumer goods across the network. In 2024, this segment shipped 2.9 million units, a 5% increase in volume year-over-year.

For projected 2025, Intermodal Freight is expected to generate $2.0 Billion, representing 14% of total projected revenue. This segment's customers are primarily those needing port access or efficient long-haul container movement.

Coal: Electric utilities, steel manufacturers, and export markets

CSX Corporation moves both thermal coal for electric utilities and metallurgical coal for steel production, plus exports. This segment saw its revenue decline in 2024 due to lower global benchmark rates.

In 2024, Coal Services generated $2.20 Billion in revenue, which was about 15.78% of the total revenue. For projected 2025, Coal Freight is expected to generate $1.9 Billion, or 13% of total revenue.

The key customer types here are:

• Electric utilities for power generation.
• Steel manufacturers using metallurgical coal.
• Export markets, with deliveries to ports like Baltimore and Norfolk.

Chemicals: Manufacturers of plastics, fertilizers, and other industrial chemicals

While the specific Chemicals segment revenue is often bundled into Merchandise, the types of customers are clear. The Merchandise segment includes chemicals & petroleum products, and fertilizers are explicitly listed as a component. The Trucking segment, operated through Quality Carriers, also focuses on bulk liquid chemicals transportation.

In 2024, the revenue from the broader Merchandise segment, which houses these chemical shippers, was $8.9 billion. You're looking at major industrial producers who rely on CSX Corporation for feedstock and product distribution.

Automotive: Vehicle manufacturers and parts suppliers

Automotive is another key component within the larger Merchandise Freight category. In 2024, the Merchandise segment, which includes Automotive, accounted for 61% of the total revenue of $14,540 million.

The Automotive customer base includes both vehicle manufacturers and suppliers of parts, relying on the network to move components to assembly plants and finished vehicles to distribution points.

Finance: draft a sensitivity analysis on Merchandise revenue assuming a 5% volume shift from Intermodal to Merchandise for 2026 by Friday.

CSX Corporation (CSX) - Canvas Business Model: Cost Structure

You're looking at the heavy, non-negotiable costs that keep the CSX Corporation network running. For a Class I railroad, the cost structure is dominated by assets that require constant, massive upkeep. It's a capital-intensive game, plain and simple.

The foundation of CSX Corporation's cost base is the high fixed costs associated with owning and maintaining the extensive rail infrastructure-the tracks, bridges, signals, and yards. While we don't have the exact fixed operating expense for late 2025, we know the commitment to this asset base is ongoing. For context on the asset scale, as of June 30, 2025, the rail segment's reportable assets stood at $42.7 billion.

The variable costs, however, are what you watch closely quarter-to-quarter to gauge operational efficiency. These are the costs that move with volume and market conditions. Here's a breakdown of the key expense categories for the first six months of 2025 (H1 2025) compared to the same period in 2024, showing where the money is actually going:

Expense Category	H1 2025 Amount (Millions USD)	H1 2024 Amount (Millions USD)
Labor and Fringe	$1,612	$1,571
Purchased Services and Other	$1,484	$1,411
Fuel	$544	$626
Total Reported Expenses (Excluding D&A)	$4,673	$4,597

Labor and Fringe is a significant chunk of the operating costs. For the first half of 2025, this category hit $1.612 billion. That's a definite increase from the $1.571 billion seen in H1 2024, likely reflecting wage pressures and inflation impacting the workforce you depend on.

Fuel expenses are the classic variable cost that swings with commodity prices. In H1 2025, CSX Corporation spent $544 million on fuel. That's a notable drop from the $626 million spent in the first half of 2024, suggesting either lower commodity prices or better fuel efficiency-or both-helped the bottom line, even if only slightly.

You also have to account for the money going into keeping the network modern and expanding its reach. Capital expenditures (CapEx) are critical here. Management reaffirmed its plan to spend approximately $2.5 billion on CapEx for the full year 2025. Looking at the actual spend through the first half of the year, the rail segment alone invested $1,457 million ($1.457 billion) in property additions, showing they are defintely pushing hard on network improvements.

Here are the key components driving the non-labor, non-fuel operating costs:

• Purchased Services and Other: This category was $1.484 billion for H1 2025, up from $1.411 billion the prior year.
• Capital Expenditures (Rail Segment YTD): $1,457 million spent through June 30, 2025.
• Planned Full-Year CapEx: Approximately $2.5 billion budgeted for 2025.
• Depreciation and Amortization (H1 2025): This non-cash charge was $852 million.

Finance: draft 13-week cash view by Friday.

CSX Corporation (CSX) - Canvas Business Model: Revenue Streams

CSX Corporation generates its freight revenue primarily from the transportation of merchandise, intermodal containers, and coal across its network in the Eastern United States. The total revenue for the Trailing Twelve Months (TTM) ending September 30, 2025, was reported at $14.123 billion.

The business model relies on distinct freight segments, with the Merchandise segment historically being the largest contributor to the top line. For the projected Fiscal Year 2025, Merchandise Freight is expected to account for 64% of total revenues, translating to an estimated $9.1 billion. This segment includes the transportation of chemicals & petroleum products, metals & equipment, minerals, fertilizers, forest products, agricultural & food products, and automotive cargo.

The revenue streams show varied performance across segments as of the third quarter of 2025. For instance, in Q3 2025, the Merchandise segment saw a -1% revenue decline on a -1% volume decrease, with pricing offsetting fuel/mix effects. Conversely, Intermodal revenue increased by +4% on a +5% volume increase in the same quarter, driven by international growth.

Coal revenue faced headwinds, with Q3 2025 revenue declining by -11% on a -3% volume decrease, as weakness in the export coal market persisted, though utility coal remained strong. Overall total quarterly revenue for Q3 2025 was $3.59 billion, a 1% decrease year-over-year, as lower export coal prices and merchandise volume declines partially offset gains elsewhere.

Fuel surcharge revenue is a variable component of the total, adjusting based on diesel prices. The impact of lower fuel surcharges was noted as a factor contributing to a 4% decrease in total CSX revenue for one reported quarter. This highlights how external energy costs directly influence a portion of the reported revenue figures.

Here is a look at the projected breakdown of CSX Corporation's revenue streams for the full Fiscal Year 2025, based on current estimates:

Revenue Stream Segment	Projected FY 2025 Revenue Amount	Projected Percentage of Total Revenue
Merchandise Freight	$9.1 Bil	64%
Intermodal Freight	$2.0 Bil	14%
Coal Freight	$1.9 Bil	13%
Trucking & Others	$1.2 Bil	9%

The revenue composition for the third quarter of 2025 showed specific commodity performance within the freight categories:

• Intermodal revenue was up +4% on a +5% volume increase.
• Within Merchandise, Minerals revenue grew +12% on +8% volume growth.
• Fertilizer volume saw a rebound with 7% growth.
• Forest Products and Chemical markets volumes were both down -7%.
• Export coal revenue declined -11% year-over-year.

The company's Q3 2025 revenue was $3.59 billion, with adjusted earnings per share of $0.44. The TTM revenue of $14.123B represented a 3.8% decline year-over-year.