**CSX reports stronger second-quarter 2026 results, improved margins and higher cash generation** CSX Corp. reported a materially stronger second quarter for the period ended June 30, 2026, with revenue, operating income and earnings per share all rising from the prior year. The Jacksonville-based rail operator said second-quarter revenue increased by $361 million, or 10%, to $3.94 billion, driven by higher fuel surcharge revenue, increased volume and pricing gains across merchandise, intermodal and coal. Total volume rose to 1.676 million units from 1.580 million units a year earlier. Operating income rose 17% to $1.51 billion from $1.28 billion in the second quarter of 2025, while operating margin improved 240 basis points to 38.3%. Diluted earnings per share were $0.54, up $0.10, or 23%, from $0.44 in the year-earlier quarter. For the first six months of 2026, CSX reported revenue of $7.42 billion, up $420 million from the prior year, operating income of $2.76 billion, and diluted earnings per share of $0.97, up from $0.78. The company’s merchandise business was supported by higher shipments of plastics, waste, petcoke, sand, export grains, domestic feed ingredients, cement and aggregates. Automotive volume declined due to a temporary outage at a customer location related to re-tooling. Metals and equipment improved on higher pipe and scrap shipments, partly offset by lower steel shipments, including the impact of customer plant closures. Forest products were roughly flat, as higher lumber shipments tied in part to a tighter trucking market were offset by weaker pulp and paper shipments, including plant closures and temporary outages. Intermodal volume increased as domestic shipments benefited from customer wins, new service offerings and tighter truck capacity, while international shipments were relatively flat. Coal volume rose as export coal shipments increased, including metallurgical and thermal coal from reopened mines, though domestic coal shipments to utilities declined. Expenses rose $138 million, or 6%, to $2.43 billion in the quarter, mainly because fuel expense increased $177 million. CSX said locomotive fuel prices rose 74%, and non-locomotive fuel prices also increased, partly offset by efficiency savings. Non-fuel expense declined.