11/08/2018 | Press release | Distributed by Public on 11/08/2018 10:02
FORWARD LOOKING DISCLOSURE
This information and other statements by the company may contain forward-looking statements within the meaning of the Private Securities Litigation Reform
Act with respect to, among other items: projections and estimates of earnings, revenues, margins, volumes, rates, cost-savings, expenses, taxes, liquidity,capital expenditures, dividends, share repurchases or other financial items, statements of management's plans, strategies andobjectives for future operations,and management's expectations as to future performance and operations and the time by which objectives will be achieved, statements concerning proposed
new services, and statements regarding future economic, industry or market conditions or performance. Forward-looking statements are typically identified bywords or phrases such as "will," "should," "believe," "expect," "anticipate," "project," "estimate," "preliminary" and similar expressions. Forward-looking statements
speak only as of the date they are made, and the company undertakes no obligation to update or revise any forward-looking statement. If the company updates any forward-looking statement, no inference should be drawn that the company will make additional updates with respect to that statement or any other forward-looking statements.
Forward-looking statements are subject to a number of risks and uncertainties, and actual performance or results could differ materially from that anticipated by
any forward-looking statements. Factors that may cause actual results to differ materially from those contemplated by any forward-looking statements include, among others; (i) the company's success in implementing its financial and operational initiatives; (ii) changes in domestic or internationaleconomic, political or
business conditions, including those affecting the transportation industry (such as the impact of industry competition, conditions, performance and consolidation);
(iii) legislative or regulatory changes; (iv) the inherent business risks associated with safety and security; (v) the outcome of claims and litigation involving or affecting the company; (vi) natural events such as severe weather conditions or pandemic health crises; and (vii) the inherent uncertainty associated withprojecting economic and business conditions.
Other important assumptions and factors that could cause actual results to differ materially from those in the forward-looking statements are specified in thecompany's SEC reports, accessible on the SEC's website atwww.sec.govand the company's website atwww.csx.com.
NON-GAAP MEASURES DISCLOSURE
CSX reports its financial results in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP). CSX also uses certain non-GAAP measures that fall within the meaning of Securities and Exchange Commission Regulation G and Regulation S-K Item 10(e), which may provide users of the financial information with additional meaningful comparison to prior reported results.
Non-GAAP measures do not have standardized definitions and are not defined by U.S. GAAP.Therefore, CSX's non-GAAP measures are unlikely to be comparable to similar measures presented by other companies. The presentation of these non-GAAP measures should not be considered in isolation from, as a substitute for, or as superior to the financial information presented in accordance with GAAP. Reconciliations of non-GAAP measures to corresponding GAAP measures are attached hereto in the Appendix of this presentation.
CSX: A FAR-REACHING AND DIVERSE REVENUE BASE
PUTTING CSX ON A NEW TRAJECTORY
Focusing top to bottom on service and efficiency
Scheduled railroad business model
Reduced active locomotive fleet by 12% in 3Q18, while volumes grew by 4% year-over-year
―Operating department restructured to push decision-making into the field
Reengineering intermodal franchise―Drive profitable and sustainable growth
Leveraging "Best in Class" service to growrevenues―New Sales & Marketing leadership