CSX: 3 Key Takeaways for Long-Term Investors

CSX reported a 30% increase in earnings per share in Q3 2026, driven by operational efficiency and volume growth. The railroad achieved a 5% volume increase while reducing nonfuel costs by 3%, expanded operating margins by over 4 percentage points, and reached all-time record intermodal volumes up 7% year-over-year. Management projects full-year operating margin expansion of more than 350 basis points and free cash flow growth exceeding 80%, supported by pricing discipline and structural advantages from infrastructure improvements.