CSX Q3 net earnings fall 22% to $694 million after $164 million goodwill impairment
CSX reported third quarter 2025 results with revenue of $3.59 billion, down 1% from a year earlier, and net earnings of $694 million, or $0.37 per share, down from $894 million, or $0.46 per share, in the third quarter of 2024. Excluding a non-cash goodwill impairment of $164 million tied to Quality Carrier, adjusted net earnings were $818 million, or $0.44 per share, which is still below the prior year's figures.
Key points
- Third quarter operating income was $1.09 billion, down 20% from $1.35 billion a year earlier; adjusted operating income excluding the impairment was $1.25 billion.
- Volume rose 1% year over year to 1.61 million units, but revenue fell 1% as lower export coal prices and lower merchandise volume offset gains in other revenue, merchandise pricing and intermodal.
- Expenses rose $235 million, or 10%, in the quarter, including $164 million of goodwill impairment and $35 million of corporate restructuring, severance and advisory costs excluded from adjusted results.
- The filing gives no new financial guidance for future periods.
The filing
Written by AI on Nov 8, 2026, 1:21 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on October 16, 2025.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.