# CSX Q3 2026 Earnings Report Highlights

> CSX reports record quarterly revenue and margin expansion with strong intermodal growth.
- Title: CSX Q3 2026 Earnings Report Highlights · The Motley Fool
- Summary: CSX reports record quarterly revenue and margin expansion with strong intermodal growth. CSX achieved $4.02 billion quarterly revenue, 39.1% operating…
- Keywords: csx, q3 2026, revenue, operating margin, intermodal, merchandise, fertilizer, coal, fuel efficiency, network velocity, finance, money
- Source: The Motley Fool — https://fool.com/earnings/call-transcripts/2026/10/21/csx-csx-q3-2026-earnings-call-transcript
- Author: Motley Fool Transcribing
- Published: 2026-10-22T00:38:15+00:00
- Read time: 1 min
- Topics: csx, q3 2026, revenue, operating margin, intermodal, merchandise, fertilizer, coal, fuel efficiency, network velocity, finance, money
## Q3 2026 Results
CSX reported $4.02 billion quarterly revenue, a 12% year-over-year increase.
## Earnings Per Share
Adjusted EPS of $0.57, representing 30% growth from last year.
## Operating Margin
39.1% operating margin, 420 basis points expansion year over year.
## Total Volume
1.69 million units, 5% year-over-year growth across segments.
## Intermodal Performance
20% revenue growth to record level with 7% volume increase.
## Merchandise Segment
11% revenue growth on 3% volume increase supported by metals demand.
## Metals Volume
12% year-over-year growth in metals volume due to new steel mills.
## Chemicals and Waste
7% volume growth driven by petroleum and waste product opportunities.
## Fertilizer Headwinds
13% volume decline due to supply issues and low crop prices.
## Coal Performance
10% revenue growth on 2% volume increase with higher global benchmarks.
## Export Coal
7% volume increase as mine output rose with domestic utility tons declining.
## Nonfuel Costs
3% year-over-year decrease despite handling 5% more volume.
## Labor Expense
$19 million increase from higher incentive compensation and inflation.
## PS&O Expenses
10% year-over-year decrease with improved locomotive utilization.
## Safety Metrics
FRA injury rate decreased 17% and accident rate fell 4%.
## Fuel Efficiency
Record fuel efficiency achieved through trip optimizer technology.
## Revenue Guidance
Full-year revenue growth expected in high single digits.
## Margin Guidance
Operating margin expansion of more than 350 basis points for 2026.
## Capital Expenditures
Guidance remains below $2.4 billion for 2026 infrastructure projects.
## Free Cash Flow
Expected to exceed 80% growth for full year driven by efficiency gains.
## Key takeaway

CSX achieved $4.02 billion quarterly revenue, 39.1% operating margin, and 5% volume growth in Q3 2026.