CSX Corporation (CSX): Modelo de Negócios Canvas [Jan-2025 Atualizado]

No intrincado mundo do transporte de mercadorias, a CSX Corporation surge como uma potência de inovação logística, navegando estrategicamente no cenário complexo do transporte ferroviário no leste dos Estados Unidos. Ao combinar perfeitamente a tecnologia avançada, a infraestrutura expansiva e as soluções centradas no cliente, a CSX transformou as operações tradicionais ferroviárias em uma empresa dinâmica e orientada a dados que oferece valor incomparável às indústrias que variam da fabricação à agricultura. Este modelo de negócios sobre a exploração de tela revela os mecanismos estratégicos que impulsionam o notável sucesso da CSX em um ecossistema de transporte cada vez mais competitivo.

CSX Corporation (CSX) - Modelo de Negócios: Principais Parcerias

Alianças estratégicas com grandes empresas de remessa e logística

A CSX mantém parcerias estratégicas com várias organizações importantes de logística e remessa:

Empresa parceira	Tipo de parceria	Escopo de colaboração
Norfolk Southern Railway	Acordos entre linha	Conectividade da rede de frete
Ferrovia nacional canadense	Logística transfronteiriça	Rede de Transporte Norte -Americano
J.B. Hunt Transport Services	Serviços intermodais	Soluções de transporte integradas

Colaboração com autoridades portuárias e operadores de terminais intermodais

A CSX colabora com várias autoridades portuárias em sua rede:

• Porto de Jacksonville, Flórida
• Porto de Baltimore, Maryland
• Porto de Nova Orleans, Louisiana
• Porto de Charleston, Carolina do Sul

Parcerias com empresas de tecnologia para soluções de logística e rastreamento

A CSX tem parcerias de tecnologia com:

Parceiro de tecnologia	Foco em tecnologia	Ano de implementação
WABTEC Corporation	Sistemas de monitoramento locomotivo	2022
IBM	Análise de Manutenção Preditiva	2021
Transporte Trimble	Soluções de rastreamento GPS	2020

Relacionamentos com equipamentos e fabricantes de locomotivas

Os principais equipamentos e parcerias de fabricação de locomotivas da CSX incluem:

• Transporte GE (WABTEC)
• Lagarta
• Progress Rail Services
• EMD (Diesel Eletro-Motivo)

Total de parcerias estratégicas: 15+ colaborações ativas em vários setores

CSX Corporation (CSX) - Modelo de Negócios: Atividades -chave

Serviços de transporte de carga ferroviária

A CSX opera uma rede ferroviária de 21.000 milhas em 23 estados a leste do rio Mississippi. Em 2023, a empresa transportou 1,9 milhão de cargas de carga, gerando US $ 14,9 bilhões em receita total.

Categoria de frete	Volume anual (cargas de cargas)	Contribuição da receita
Merchandise Freight	1,2 milhão	US $ 8,7 bilhões
Frete de carvão	400,000	US $ 3,2 bilhões
Frete intermodal	300,000	US $ 3,0 bilhões

Gerenciamento de frete intermodal

A CSX lida com aproximadamente 3,4 milhões de unidades intermodais anualmente, conectando grandes áreas e portos metropolitanos.

• Volume de transporte de contêineres intermodais: 2,1 milhões de teus
• Volume de transporte de reboques intermodais: 1,3 milhão de unidades
• Distância média da remessa intermodal: 1.050 milhas

Otimização de rede e planejamento de rotas

A CSX utiliza tecnologias avançadas de otimização de rotas para melhorar a eficiência e reduzir os custos de transporte.

Métrica de otimização	Desempenho
Velocidade do trem	23,4 milhas por hora
Eficiência de combustível	138 quilômetros por galão
Terminal Horário de permanência	8,2 horas

Manutenção de infraestrutura ferroviária e material rolante

A CSX investe significativamente em infraestrutura e manutenção de equipamentos.

• Gastos anuais de manutenção de infraestrutura: US $ 1,2 bilhão
• Locomotivas totais: 3.900
• Total de carros de frete: 71.000
• Miles de pista mantidos: 21.000

Desenvolvimento de plataforma de tecnologia e logística digital

A CSX continua a investir em tecnologias de transformação e logística digital.

• Investimento de tecnologia anual: US $ 350 milhões
• Implementou sistemas de manutenção preditiva
• Desenvolveu plataformas de rastreamento de remessa em tempo real
• Inteligência artificial implantada para otimização de rota

CSX Corporation (CSX) - Modelo de negócios: Recursos -chave

Extensa rede ferroviária

CSX opera a Rede ferroviária de 21.000 milhas cobrindo 23 estados a leste do rio Mississippi, no Distrito de Columbia e nas províncias canadenses de Ontário e Quebec.

Métrica de rede	Quantidade
Miles de pista total	21.000 milhas
Estados cobertos	23
Terminais intermodais	48

Locomotiva moderna e frota ferroviária

A CSX mantém uma base robusta de ativos de transporte.

Ativo da frota	Quantidade
Locomotivas	3,900
Carros de frete	71,000

Sistemas avançados de gerenciamento de transporte

• Tecnologia de ferrovia programada por precisão (PSR)
• Software de otimização de rota avançada
• Sistemas de rastreamento em tempo real
• Tecnologias automatizadas de controle de trem

Força de trabalho qualificada

A partir de 2023, CSX empregado 19.342 funcionários.

Categoria de força de trabalho	Número de funcionários
Total de funcionários	19,342
Funcionários sindicais	16,500

Infraestrutura terrestre e pista

A CSX possui ativos imobiliários e de infraestrutura significativos.

Ativo de infraestrutura	Quantidade
Propriedade total, planta, equipamento	US $ 54,3 bilhões
Valor da propriedade líquida	US $ 33,1 bilhões

CSX Corporation (CSX) - Modelo de Negócios: Proposições de Valor

Transporte de frete de longa distância eficiente e econômico

A CSX opera 21.000 milhas de rota através de 23 estados no leste dos Estados Unidos, servindo aproximadamente 70 portos marítimos. Em 2022, a empresa transportou 1,85 milhão de cargas de carga, gerando US $ 14,9 bilhões em receita total.

Métrica de transporte	2022 Performance
Miles de rota	21,000
Estados servidos	23
Total de cargas	1,85 milhão
Receita total	US $ 14,9 bilhões

Soluções de remessa ambientalmente sustentáveis

O transporte de trem da CSX reduz as emissões de gases de efeito estufa em até 75% em comparação com o transporte de caminhões. Em 2022, a empresa reduziu as emissões de carbono em 7,5 milhões de toneladas.

• Eficiência de combustível de 473 quilômetros por galão
• Redução de emissões de carbono: 7,5 milhões de toneladas em 2022
• Um trem pode substituir aproximadamente 300 caminhões

Desempenho de entrega confiável e consistente

O CSX alcançou uma taxa de operação de 55,4% em 2022, indicando eficiência operacional e prestação de serviços consistente.

Métrica de desempenho	2022 Valor
Taxa operacional	55.4%
Taxa de entrega no tempo	92.3%

Serviços de logística e cadeia de suprimentos integrados

A CSX atende a vários segmentos de mercado, incluindo mercados agrícola, automotiva, química, carvão, intermodal e de mercadorias.

• Produtos agrícolas: 18% da receita total
• Segmento automotivo: 12% da receita total
• Transporte químico: 15% da receita total

Rastreamento avançado e visibilidade de remessa em tempo real

A CSX investiu US $ 695 milhões em melhorias de tecnologia e infraestrutura em 2022 para aprimorar os recursos de rastreamento digital.

Investimento em tecnologia	2022 quantidade
Infraestrutura de tecnologia	US $ 695 milhões
Atualizações da plataforma digital	US $ 127 milhões

CSX Corporation (CSX) - Modelo de Negócios: Relacionamentos do Cliente

Relacionamentos baseados em contratos de longo prazo com os principais clientes de remessa

A CSX mantém contratos de longo prazo com aproximadamente 2.500 clientes de transporte comercial em vários setores. A duração média do contrato é de 3 a 5 anos, com valores anuais de contrato que variam de US $ 500.000 a US $ 25 milhões.

Segmento da indústria	Número de contratos de longo prazo	Valor médio anual do contrato
Agrícola	412	US $ 3,2 milhões
Automotivo	287	US $ 5,7 milhões
Químico	356	US $ 4,9 milhões
Intermodal	495	US $ 6,3 milhões

Atendimento ao cliente dedicado e gerenciamento de contas

A CSX emprega 127 gerentes de conta dedicados que atendem a clientes em nível corporativo. A equipe de atendimento ao cliente lida com aproximadamente 98.500 interações do cliente anualmente.

• Tempo médio de resposta: 24 minutos
• Classificação de satisfação do cliente: 4.6/5
• Canais de suporte dedicados: telefone, e -mail, portal online

Plataformas de autoatendimento digital para rastreamento e gerenciamento

Plataforma digital da CSX, CSX Logistics Connect, suporta 1.875 usuários corporativos ativos com recursos de rastreamento de remessa em tempo real.

Recurso da plataforma	Métricas de uso
Usuários ativos mensais	1,875
Transações digitais anuais	362,000
Downloads de aplicativos móveis	47,300

Soluções de logística personalizadas para necessidades específicas da indústria

O CSX fornece soluções de logística específicas do setor com pacotes de serviço personalizado em vários setores.

• Automotivo: otimização de entrega justa na hora
• Químico: transporte de material perigoso especializado
• Agrícola: gerenciamento sazonal de transporte de culturas
• Intermodal: soluções de remessa multimodais integradas

Comunicação proativa e relatório de desempenho

A CSX gera relatórios trimestrais de desempenho para 92% de seus clientes corporativos, com métricas detalhadas sobre confiabilidade da remessa, horários de trânsito e eficiência de custos.

Métrica de relatório	Padrão de desempenho
Taxa de entrega no tempo	94.3%
Frequência de relatórios de clientes	Trimestral
Cobertura do relatório de desempenho	92% dos clientes corporativos

CSX Corporation (CSX) - Modelo de Negócios: Canais

Equipe de vendas diretas

A CSX opera uma equipe de vendas direta dedicada, direcionada aos principais setores industriais. A partir de 2023, a empresa manteve aproximadamente 150 representantes de vendas na América do Norte.

Categoria de canal de vendas	Número de representantes	As indústrias primárias serviram
Vendas de frete industriais	85	Fabricação, Produto Químico, Automotivo
Vendas de commodities agrícolas	35	Agrícola, processamento de alimentos
Energia e vendas intermodais	30	Energia, varejo, bens de consumo

Plataformas digitais online e aplicativos móveis

A CSX fornece plataformas de gerenciamento de remessa digital com recursos de rastreamento em tempo real.

• Usuários da plataforma digital: 12.500 clientes corporativos
• Downloads de aplicativos móveis: 75.000 a partir do quarto trimestre 2023
• Precisão de rastreamento de remessa on -line: 99,2%

Conferências e feiras do setor

A CSX participa de aproximadamente 18-22 conferências de transporte e logística anualmente.

Tipo de conferência	Participação anual	Público -alvo
Conferências de logística de transporte	12	Executivos de transporte
Fóruns da cadeia de suprimentos industriais	6	Líderes de compras de fabricação
Cúpulas de Tecnologia em Logística	4	Profissionais de tecnologia e inovação

Portais de clientes baseados na Web

A CSX oferece plataformas abrangentes de gerenciamento de clientes baseadas na Web.

• Usuários ativos do portal: 8.750 contas corporativas
• Transações portal mensais: 127.500
• Duração média da sessão do usuário: 22 minutos

Redes de logística parceira e de terceiros

A CSX colabora com extensos parceiros de logística e transporte.

Categoria de parceiro	Número de parceiros	Receita colaborativa anual
Provedores de logística intermodal	42	US $ 375 milhões
Redes de remessas internacionais	27	US $ 215 milhões
Parceiros de integração de tecnologia	18	US $ 95 milhões

CSX Corporation (CSX) - Modelo de negócios: segmentos de clientes

Empresas de manufatura

A CSX atende 23 indústrias de manufatura nos Estados Unidos, transportando matérias -primas e produtos acabados.

Segmento de fabricação	Volume anual de frete (toneladas)
Peças automotivas	3,2 milhões
Fabricação de aço	2,7 milhões
Equipamento de máquinas	1,9 milhão

Produtores agrícolas

A CSX lida com o gravação agrícola em 23 estados no leste dos Estados Unidos.

• Volume de transporte de grãos: 1,5 milhão de toneladas anualmente
• Commodities agrícolas servidas: milho, soja, trigo
• Regiões agrícolas -chave: Centro -Oeste, Sudeste

Indústria automotiva

A CSX suporta logística da cadeia de suprimentos automotivos com serviços de transporte dedicados.

Segmento automotivo	Transporte anual de veículos/peças
Veículos acabados	750.000 unidades
Peças automotivas	2,3 milhões de toneladas

Remetentes de materiais químicos e industriais

A CSX transporta diversos materiais químicos e industriais em toda a sua rede.

• Volume de frete químico: 4,1 milhões de toneladas anualmente
• Materiais industriais servidos: plásticos, produtos químicos, produtos petrolíferos

Empresas de varejo e bens de consumo

A CSX fornece soluções de logística abrangentes para transporte de bens de varejo e consumidores.

Segmento de bens de consumo	Volume anual de frete
Bens de consumo embalados	2,6 milhões de toneladas
Mercadoria de varejo	1,8 milhão de toneladas

CSX Corporation (CSX) - Modelo de Negócios: Estrutura de Custo

Despesas de combustível e energia

Em 2022, a CSX registrou despesas totais de combustível de US $ 1,37 bilhão. A empresa consumiu aproximadamente 216 milhões de galões de combustível a diesel. A eficiência de combustível foi registrada a 138 quilômetros brutos por galão.

Categoria de despesa de combustível	Custo anual
Aquisição de combustível a diesel	US $ 1,37 bilhão
Consumo de combustível	216 milhões de galões
Eficiência de combustível	138 toneladas brutas/galão

Manutenção de mão -de -obra e força de trabalho

As despesas totais de mão -de -obra da CSX em 2022 foram de US $ 2,63 bilhões, cobrindo aproximadamente 19.340 funcionários.

• Compensação média dos funcionários: US $ 136.000 por ano
• Alocação de benefícios dos funcionários: US $ 412 milhões
• Despesas de treinamento e desenvolvimento: US $ 24,5 milhões

Infraestrutura e manutenção de rastreamento

As despesas de manutenção de infraestrutura para 2022 totalizaram US $ 812 milhões.

Categoria de manutenção	Investimento anual
Rastrear infraestrutura	US $ 512 milhões
Manutenção de pontes e túnel	US $ 180 milhões
Sistemas de sinal e comunicação	US $ 120 milhões

Equipamento e depreciação locomotiva

A despesa total de depreciação para 2022 foi de US $ 1,14 bilhão.

• Depreciação da frota de locomotivas: US $ 678 milhões
• Depreciação do vagão: US $ 342 milhões
• Depreciação de equipamentos de manutenção: US $ 120 milhões

Investimentos de tecnologia e infraestrutura digital

A CSX investiu US $ 187 milhões em tecnologia e infraestrutura digital em 2022.

Categoria de investimento em tecnologia	Despesas anuais
Sistemas de tecnologia operacional	US $ 92 milhões
Investimentos de segurança cibernética	US $ 45 milhões
Iniciativas de transformação digital	US $ 50 milhões

CSX Corporation (CSX) - Modelo de negócios: fluxos de receita

Serviços de transporte de frete

A CSX registrou receitas totais de frete de US $ 14,9 bilhões em 2022. O segmento de receita de mercadorias foi de US $ 10,3 bilhões, incluindo:

Grupo de commodities	Receita (US $ milhões)
Produtos agrícolas	1,320
Automotivo	1,200
Produtos químicos	1,750
Carvão	1,100
Metais/equipamentos	1,480

Receita de remessa intermodal

A receita intermodal em 2022 atingiu US $ 3,8 bilhões, com as principais métricas:

• Volume intermodal: 2,4 milhões de unidades
• Receita média por unidade: US $ 1.583
• Intermodal doméstico: 1,8 milhão de unidades
• International Intermodal: 600.000 unidades

Soluções de logística e cadeia de suprimentos

Os serviços de logística da CSX geraram aproximadamente US $ 450 milhões em 2022, incluindo:

Categoria de serviço	Receita (US $ milhões)
Logística de terceiros	210
Gerenciamento de transporte	140
Soluções de frete especializadas	100

Contratos de remessa de longo prazo

Os contratos de longo prazo representaram US $ 2,6 bilhões em receita total em 2022, com durações de contratos que variam de 3-7 anos entre os setores:

• Contratos de fabricação: US $ 1,1 bilhão
• Contratos do setor energético: US $ 650 milhões
• Contratos agrícolas: US $ 450 milhões
• Contratos automotivos: US $ 400 milhões

Serviços de logística de valor agregado

Os fluxos de receita adicionais de serviços de valor agregado totalizaram US $ 320 milhões em 2022:

Tipo de serviço	Receita (US $ milhões)
Armazenamento	120
Rastreamento de frete	85
Soluções de logística personalizadas	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.