CSX Corporation announced its fourth-quarter 2024 operating income of $1.11 billion, a 16% decrease from $1.32 billion in the prior year period. Net income for the quarter was $733 million, or $0.38 per diluted share, down 17% from $882 million, or $0.45 per diluted share, in Q4 2023. These results include a pre-tax, non-cash goodwill impairment charge of $108 million.
Adjusted for the goodwill impairment, operating income was $1.21 billion for the quarter, and adjusted net income was $815 million, or $0.42 per diluted share. Total volume for the quarter increased by 1% to 1.58 million units, while revenue decreased 4% year-over-year to $3.54 billion, primarily due to lower fuel surcharge and coal revenue.
For the full year 2024, CSX reported operating income of $5.25 billion, down 5% from the previous year, and net income of $3.47 billion, or $1.79 per share, also down 5% from 2023. CEO Joe Hinrichs acknowledged that 2024 presented challenges, including substantial impacts from major hurricanes and the Key Bridge outage, but highlighted the team's focus on customer satisfaction and network investments for future growth.
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