January 18, 2024
(press release)
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JACKSONVILLE, Fla. – January 18, 2024 – CSX (NASDAQ: CSX) continues to lead the rail industry as the “top performer” in intermodal service, according to a recent survey by the Journal of Commerce (JOC). The survey, conducted between Sept. 1 and Oct. 31, involved shippers and intermodal marketing companies (IMCs). Among the four U.S. Class I railroads, CSX was voted the top performer by 38.8% of respondents, outpacing its closest competitor by more than 14 percentage points. This honor marks the second consecutive JOC survey in which CSX has been recognized for its exceptional performance in this sector, as the rail company also was named the top performer in a similar survey released in May 2023. CSX’s internal measurement for intermodal on-time performance was 99.8% in 2023. “CSX is grateful to all of our customers for their ongoing partnership in ensuring a seamless shipping experience,” said Joe Hinrichs, president and chief executive officer of CSX. “This recognition underscores our team’s commitment to effectively collaborating with customers to provide transparent communication, innovative solutions, and exceptional service.” Despite challenges in conversions from truck to rail due to soft trucking rates, the average shipper saved 26% on contractual business and 17% on spot market business when choosing intermodal rail over long-haul trucking in the fourth quarter, according to the Journal of Commerce Intermodal Savings Index. "The survey results are a signal that both railroads and IMCs are meeting or exceeding customer expectations," reported JOC in a Jan. 11 article about the survey. These results underscore the value proposition of intermodal rail service and CSX's continued commitment to delivering reliable, efficient and cost-effective solutions for customers. For more information on CSX's intermodal services, visit www.csx.com. About CSX CSX, based in Jacksonville, Florida, is a premier transportation company. It provides rail, intermodal and rail-to-truck transload services and solutions to customers across a broad array of markets, including energy, industrial, construction, agricultural, and consumer products. For nearly 200 years, CSX has played a critical role in the nation's economic expansion and industrial development. Its network connects every major metropolitan area in the eastern United States, where nearly two-thirds of the nation's population resides. It also links more than 240 short-line railroads and more than 70 ocean, river and lake ports with major population centers and farming towns alike. Matthew Korn, CFA, Investor Relations Bryan Tucker, Corporate Communications
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