In the second quarter of 2008, CSX Corporation reported record revenues, operating income, and earnings per share. Revenue grew 15% compared to the second quarter of 2007, driven by strong growth in coal, agricultural, and chemical markets. Operating income increased 17% and earnings per share grew 22% over the second quarter of 2007. Safety and service levels remained strong during the quarter despite challenging operating conditions.
- Third quarter earnings per share from continuing operations was $0.67, up 24% from the comparable figure of $0.54 in the previous year, driven by improved operating performance and productivity gains.
- Safety and customer service metrics reached new highs during the quarter.
- Revenue increased 3% to $2.5 billion due to strong pricing, while expenses grew modestly.
- The company targets double-digit earnings growth through 2010 and an operating ratio in the mid-low 70s, supported by productivity initiatives.
The document summarizes CSX Corporation's fourth quarter 2007 earnings conference call. Key points include:
- Revenues increased 8% to $2.6 billion due to improved service and yield management offsetting softer volumes.
- Operating income increased 26% to $601 million compared to $478 million last year, driven by revenue strength and cost control overcoming fuel cost increases.
- Safety performance reached historical best levels while on-time performance and network efficiency were at all-time highs, delivering strong service for customers.
Financial Analysis - National Oilwell Varco Inc. is a worldwide provider of e...BCV
Financial Analysis - National Oilwell Varco Inc. is a worldwide provider of equipment and components used in oil and gas drilling and production operations, oilfield services
110212 divulgação de resultados 4 t10 inglesMultiplus
1) Multiplus saw increases in points issued and redeemed in 4Q10 compared to 3Q10, along with higher gross billings.
2) They improved their breakage accounting methodology to better reflect a 12-month average ratio, lowering breakage liability and raising deferred revenue.
3) While points issued and gross billings grew, adjusted EBITDA declined in 4Q10 due to the breakage methodology change and higher points to be redeemed.
1) Bank of America Chairman and CEO Ken Lewis presented at a Goldman Sachs conference on December 12, 2007 to discuss the company's current position and outlook.
2) The presentation highlighted Bank of America's diverse business lines including consumer banking, wealth management, and corporate and investment banking that contribute to earnings.
3) It also discussed opportunities for growth through initiatives in areas like wealth management, retirement services, and expanding consumer credit and real estate lending to existing customers.
ual JPMorgan Global High Yield Conference Presentationfinance13
This document provides an overview of UAL Corporation's performance in the fourth quarter of 2008. Some key points:
- UAL reported a pre-tax loss of $547 million for Q4 2008, excluding special items.
- Capacity reductions have positioned the company well for a downturn, with an 11.7% reduction in Q4 2008 capacity.
- Cost control efforts kept Q4 CASM excluding fuel flat year-over-year despite the large capacity cut.
- The company has taken aggressive actions to reduce capacity and costs in 2009 to deal with challenges.
This document describes a methodology for evaluating ABX indices by projecting the monthly losses and months-to-writedown of the underlying mortgage deals. It involves creating a roll rate matrix to project the monthly states of each mortgage, deriving the monthly losses from the states, and calculating months-to-writedown by comparing the losses to the credit enhancement level. The methodology can be implemented in Excel and provides a framework for evaluating ABX performance over time in a simple way. Enhancements to improve the accuracy of the projections are also discussed.
SEB Group reported lower profits in Q1 2008 compared to Q1 2007 and Q4 2007. Net profit declined 43% year-over-year and 51% quarter-over-quarter due to lower net interest income and net financial income. Total operating income and net fee and commission income also declined. Asset quality remained stable with a low credit loss level of 0.13%. Return on equity fell to 9.6% from 19% in Q1 2007.
- Third quarter earnings per share from continuing operations was $0.67, up 24% from the comparable figure of $0.54 in the previous year, driven by improved operating performance and productivity gains.
- Safety and customer service metrics reached new highs during the quarter.
- Revenue increased 3% to $2.5 billion due to strong pricing, while expenses grew modestly.
- The company targets double-digit earnings growth through 2010 and an operating ratio in the mid-low 70s, supported by productivity initiatives.
The document summarizes CSX Corporation's fourth quarter 2007 earnings conference call. Key points include:
- Revenues increased 8% to $2.6 billion due to improved service and yield management offsetting softer volumes.
- Operating income increased 26% to $601 million compared to $478 million last year, driven by revenue strength and cost control overcoming fuel cost increases.
- Safety performance reached historical best levels while on-time performance and network efficiency were at all-time highs, delivering strong service for customers.
Financial Analysis - National Oilwell Varco Inc. is a worldwide provider of e...BCV
Financial Analysis - National Oilwell Varco Inc. is a worldwide provider of equipment and components used in oil and gas drilling and production operations, oilfield services
110212 divulgação de resultados 4 t10 inglesMultiplus
1) Multiplus saw increases in points issued and redeemed in 4Q10 compared to 3Q10, along with higher gross billings.
2) They improved their breakage accounting methodology to better reflect a 12-month average ratio, lowering breakage liability and raising deferred revenue.
3) While points issued and gross billings grew, adjusted EBITDA declined in 4Q10 due to the breakage methodology change and higher points to be redeemed.
1) Bank of America Chairman and CEO Ken Lewis presented at a Goldman Sachs conference on December 12, 2007 to discuss the company's current position and outlook.
2) The presentation highlighted Bank of America's diverse business lines including consumer banking, wealth management, and corporate and investment banking that contribute to earnings.
3) It also discussed opportunities for growth through initiatives in areas like wealth management, retirement services, and expanding consumer credit and real estate lending to existing customers.
ual JPMorgan Global High Yield Conference Presentationfinance13
This document provides an overview of UAL Corporation's performance in the fourth quarter of 2008. Some key points:
- UAL reported a pre-tax loss of $547 million for Q4 2008, excluding special items.
- Capacity reductions have positioned the company well for a downturn, with an 11.7% reduction in Q4 2008 capacity.
- Cost control efforts kept Q4 CASM excluding fuel flat year-over-year despite the large capacity cut.
- The company has taken aggressive actions to reduce capacity and costs in 2009 to deal with challenges.
This document describes a methodology for evaluating ABX indices by projecting the monthly losses and months-to-writedown of the underlying mortgage deals. It involves creating a roll rate matrix to project the monthly states of each mortgage, deriving the monthly losses from the states, and calculating months-to-writedown by comparing the losses to the credit enhancement level. The methodology can be implemented in Excel and provides a framework for evaluating ABX performance over time in a simple way. Enhancements to improve the accuracy of the projections are also discussed.
SEB Group reported lower profits in Q1 2008 compared to Q1 2007 and Q4 2007. Net profit declined 43% year-over-year and 51% quarter-over-quarter due to lower net interest income and net financial income. Total operating income and net fee and commission income also declined. Asset quality remained stable with a low credit loss level of 0.13%. Return on equity fell to 9.6% from 19% in Q1 2007.
This document provides a financial supplement with statistics for the third quarter of 2008 for Aetna Inc. including:
- Operating earnings of $536.7 million for Aetna in 3Q 2008, up 5.8% from 3Q 2007.
- Health care membership increased to 17.7 million medical members in 3Q 2008, up from 16.6 million in 3Q 2007.
- Total revenue for Aetna was $7.98 billion in 3Q 2008, up 14.4% from $6.98 billion in 3Q 2007, driven mainly by growth in health care premiums.
This document provides a financial supplement to Aetna's second quarter 2008 earnings press release. It includes:
1) Key financial highlights and statistics for Aetna's Health Care, Group Insurance, and Large Case Pensions segments for Q2 2008 and year-to-date compared to the prior year.
2) Statements of net income by segment for Q2 2008 and 2007, showing revenue, expenses, operating earnings, taxes and net income for each segment.
3) Membership counts by product and region as of June 30, 2008 and prior periods.
The document provides supplemental financial information to accompany Aetna's earnings press release for further context on the company's performance in specific business
BBVA demonstrated the recurrent nature and sustainability of its business model in 2008. In the first quarter of 2009, BBVA continued its strong performance with recurrent operating income supported by recurrent revenues and greater efficiency. Risk management also remained prudent with lower entries to NPAs, provisioning in line with the second half of 2008, and ample generic provisions to cover losses.
This document contains a disclaimer and forward-looking statements regarding a company's presentation. It discusses the company's 2007 financial results including:
- Net income increased 11.6% and consolidated EBITDA reached R$1,123 million, a 4.6% growth. EBITDA growth excluding non-recurring items would have been 16.3%.
- Generation segment's EBITDA grew 62.1% to R$442 million contributing 38% of consolidated EBITDA.
- Commercialization grew 7.2% in volume and 25.7% in margin. Distribution grew 9.6% in net operating revenue but EBITDA declined 18.1% due to an extraordinary reduction in
The document provides a summary of EDP Energias do Brasil's 4Q08 results. Some key highlights include:
- Consolidated net operating revenue increased 9.1% to R$1,189.2 million in 4Q08.
- Manageable expenditures before depreciation and amortization decreased 18% compared to 4Q07.
- 4Q08 EBITDA reached R$306.0 million, an increase of 96.5% compared to 4Q07.
- Net income for 4Q08 was R$119.0 million, 51% higher than 4Q07.
Multiplus reported strong growth in the second quarter of 2011. Points issued grew 51.4% year-over-year to 18.5 billion points, while gross billings increased 34.3% to R$354.6 million. Net income was R$81.2 million, an increase from R$23.1 million in the prior year quarter. The average breakage rate was stable at 23.3%. Multiplus uses currency hedges to mitigate foreign exchange risk from agreements denominated in US dollars, with a notional position of USD 171 million in hedges through 2014.
Trina Solar held an earnings call to discuss its Q4 2012 and fiscal year 2012 performance. Key highlights included module and system shipments of 415MW and 1.6GW respectively. Revenue was $302.7 million for Q4 2012 and $1.3 billion for fiscal year 2012. Gross margins were low due to write-downs and provisions. The company provided guidance for Q1 2013 shipments of 420-430MW and fiscal year 2013 shipments of 2-2.1GW. Trina Solar has a strong balance sheet with $918 million in cash and manufacturing capacity of 2.4GW for modules and 2.4GW for cells. Regional sales breakdowns and commercial strategies were also discussed.
The agenda outlines the schedule for a Generali investor day event, including presentations on reshaping Generali through increased discipline, simplicity and focus. Mario Greco, the Group CEO, will give opening and closing remarks. Other presentations will cover the balance sheet, cash position and cost discipline; and progress towards industrial excellence. A Q&A session is also scheduled.
Financial analysis goldcorp, inc. is engaged in the acquisition, exploratio...BCV
Goldcorp Inc is a Canadian-based mining company that acquires, explores, develops, and operates precious metal properties around the world. It is the largest gold producer in North America, with operations primarily in Mexico, Canada, Argentina, Guatemala, and the United States. In 2012, Goldcorp generated over $5 billion in revenue from its gold mining operations. The company's stock price has fallen over 30% in the past year and analysts project further declines, though most recommend buying the stock given its long-term growth potential from expanding operations.
Mary Lehmann, Senior Vice President of Strategic Initiatives and Treasurer of ArvinMeritor, presented at the 2009 Barclays Capital Industrial Select Conference on February 11, 2009. In her presentation, she discussed ArvinMeritor's globally diverse business portfolio, highlighted the company's first quarter financial results which showed a year-over-year decline in sales and earnings, and provided an overview of the company's ongoing restructuring efforts to reduce costs.
1) The document presents the quarterly results for 2010 of a bank. It highlights solid results given the current economic climate with lower provisions for credit losses and no new non-performing loans.
2) The bank saw a decline in income compared to previous periods but operating expenses also declined, leading to a higher operating profit. Net interest income decreased primarily from lower lending income.
3) The bank has initiated a Nordic growth plan to expand its corporate banking business across the Nordic region and strengthen its position through regional hubs in each country.
This document is the Coca-Cola Company's 2007/2008 Sustainability Review. It summarizes the company's performance across key sustainability issues including workplace, marketplace, environment, and community. Some highlights include a 28% increase in supplier audits from 2006 to 2007, a 2% improvement in water use efficiency and a 4% improvement in energy efficiency from 2006 to 2007. The review discusses Coca-Cola's sustainability strategy and goals to operate responsibly and integrate sustainability into business planning and decision making. It also outlines engagement with bottling partners to track sustainability metrics across the entire Coca-Cola system.
Financial Analysis - American International Group, Inc. is an internationa…BCV
Financial Analysis - American International Group, Inc. is an international insurance organization serving commercial, institutional and individual customers. AIG provides property-casualty insurance, life insurance and retirement services.pdf
Petrobras unveiled its strategic plan and business plan for 2010-2014 totaling $224 billion in investments. Key aspects include increasing domestic oil and gas production, with targets of 5.4 million boe/d by 2020. Major projects in the pre-salt region were added to come online between 2010-2014 including Guará Pilot FPSO, Tupi NE Pilot FPSO, and Baleia Azul FPSO. The plan aims to boost domestic refining and natural gas supply while expanding internationally in select markets and business segments. Local content is expected to provide nearly 70% of total investment needs during this period.
SEB's third quarter 2011 results presentationSEBgroup
- SEB reported higher operating income and profit for Q3 2011 compared to previous quarters, though profit was down 13% from Q2 2011.
- The bank maintained a strong capital position and liquidity reserve sufficient to cover maturing debt over the next two years.
- Net interest income was stable compared to previous quarters, with growth in lending and deposits offsetting lower non-customer income. Fees and commissions were also stable.
- The document is the transcript from CSX Corporation's Third Quarter 2008 Earnings Conference Call.
- It discusses CSX's strong financial performance in the third quarter, with record revenues, operating income, and earnings per share. Revenues grew 18% compared to the previous year.
- The transcript highlights improvements in safety and service quality while increasing productivity. It also notes that the railroad network responded well to storms during the quarter and operations have returned to normal levels.
This document provides an overview of Commercial Metals Company (CMC) and its quarterly performance. It discusses CMC's business model, including its vertical integration and product and geographic diversification. It also summarizes CMC's financial performance from 2003-2007, highlighting increasing sales, earnings, and shareholder returns over that period. Current market conditions and CMC's outlook are briefly addressed.
The document provides an overview of CMC's business model, current market conditions, earnings results, and operational metrics for the third quarter of 2008. It discusses CMC's strategy of vertical integration, product diversification, and global geographic dispersion. It also reviews demand trends, input costs, earnings, investments, segment performance, and operational details.
The document provides an overview of CMC's business model, current market conditions, earnings results, and operational metrics for the third quarter of 2008. It discusses CMC's strategy of vertical integration, product diversification, and global geographic dispersion. It also reviews earnings, sales, margins, capital investments, and performance across CMC's different business segments.
The document provides an overview of CMC, a global steel and metals company. It discusses CMC's business model which focuses on vertical integration, product diversification, and global geographic dispersion. It also summarizes CMC's track record of conservative management and 30 consecutive years of profitability. Finally, it outlines CMC's five operating segments and overall strategy of achieving a global reach through regional focus and growth in key markets.
The document provides an overview of CMC's business model which focuses on vertical integration, product diversification, and global geographic dispersion. It then discusses CMC's current market conditions and outlook across different geographic regions and product lines, including details on earnings expectations, capital investment projects, and quarterly financial statistics. The document also reviews factors influencing costs and selling prices for CMC's various steel manufacturing operations in North America.
CMC is a global steel and metals company with over 14,000 employees worldwide. It manufactures, recycles, markets, and distributes steel and metal products through a network of over 200 locations globally. CMC operates steel minimills, fabrication plants, service centers, and recycling facilities. It aims to be vertically integrated and diversified in its product offerings and geographic reach.
This document provides a financial supplement with statistics for the third quarter of 2008 for Aetna Inc. including:
- Operating earnings of $536.7 million for Aetna in 3Q 2008, up 5.8% from 3Q 2007.
- Health care membership increased to 17.7 million medical members in 3Q 2008, up from 16.6 million in 3Q 2007.
- Total revenue for Aetna was $7.98 billion in 3Q 2008, up 14.4% from $6.98 billion in 3Q 2007, driven mainly by growth in health care premiums.
This document provides a financial supplement to Aetna's second quarter 2008 earnings press release. It includes:
1) Key financial highlights and statistics for Aetna's Health Care, Group Insurance, and Large Case Pensions segments for Q2 2008 and year-to-date compared to the prior year.
2) Statements of net income by segment for Q2 2008 and 2007, showing revenue, expenses, operating earnings, taxes and net income for each segment.
3) Membership counts by product and region as of June 30, 2008 and prior periods.
The document provides supplemental financial information to accompany Aetna's earnings press release for further context on the company's performance in specific business
BBVA demonstrated the recurrent nature and sustainability of its business model in 2008. In the first quarter of 2009, BBVA continued its strong performance with recurrent operating income supported by recurrent revenues and greater efficiency. Risk management also remained prudent with lower entries to NPAs, provisioning in line with the second half of 2008, and ample generic provisions to cover losses.
This document contains a disclaimer and forward-looking statements regarding a company's presentation. It discusses the company's 2007 financial results including:
- Net income increased 11.6% and consolidated EBITDA reached R$1,123 million, a 4.6% growth. EBITDA growth excluding non-recurring items would have been 16.3%.
- Generation segment's EBITDA grew 62.1% to R$442 million contributing 38% of consolidated EBITDA.
- Commercialization grew 7.2% in volume and 25.7% in margin. Distribution grew 9.6% in net operating revenue but EBITDA declined 18.1% due to an extraordinary reduction in
The document provides a summary of EDP Energias do Brasil's 4Q08 results. Some key highlights include:
- Consolidated net operating revenue increased 9.1% to R$1,189.2 million in 4Q08.
- Manageable expenditures before depreciation and amortization decreased 18% compared to 4Q07.
- 4Q08 EBITDA reached R$306.0 million, an increase of 96.5% compared to 4Q07.
- Net income for 4Q08 was R$119.0 million, 51% higher than 4Q07.
Multiplus reported strong growth in the second quarter of 2011. Points issued grew 51.4% year-over-year to 18.5 billion points, while gross billings increased 34.3% to R$354.6 million. Net income was R$81.2 million, an increase from R$23.1 million in the prior year quarter. The average breakage rate was stable at 23.3%. Multiplus uses currency hedges to mitigate foreign exchange risk from agreements denominated in US dollars, with a notional position of USD 171 million in hedges through 2014.
Trina Solar held an earnings call to discuss its Q4 2012 and fiscal year 2012 performance. Key highlights included module and system shipments of 415MW and 1.6GW respectively. Revenue was $302.7 million for Q4 2012 and $1.3 billion for fiscal year 2012. Gross margins were low due to write-downs and provisions. The company provided guidance for Q1 2013 shipments of 420-430MW and fiscal year 2013 shipments of 2-2.1GW. Trina Solar has a strong balance sheet with $918 million in cash and manufacturing capacity of 2.4GW for modules and 2.4GW for cells. Regional sales breakdowns and commercial strategies were also discussed.
The agenda outlines the schedule for a Generali investor day event, including presentations on reshaping Generali through increased discipline, simplicity and focus. Mario Greco, the Group CEO, will give opening and closing remarks. Other presentations will cover the balance sheet, cash position and cost discipline; and progress towards industrial excellence. A Q&A session is also scheduled.
Financial analysis goldcorp, inc. is engaged in the acquisition, exploratio...BCV
Goldcorp Inc is a Canadian-based mining company that acquires, explores, develops, and operates precious metal properties around the world. It is the largest gold producer in North America, with operations primarily in Mexico, Canada, Argentina, Guatemala, and the United States. In 2012, Goldcorp generated over $5 billion in revenue from its gold mining operations. The company's stock price has fallen over 30% in the past year and analysts project further declines, though most recommend buying the stock given its long-term growth potential from expanding operations.
Mary Lehmann, Senior Vice President of Strategic Initiatives and Treasurer of ArvinMeritor, presented at the 2009 Barclays Capital Industrial Select Conference on February 11, 2009. In her presentation, she discussed ArvinMeritor's globally diverse business portfolio, highlighted the company's first quarter financial results which showed a year-over-year decline in sales and earnings, and provided an overview of the company's ongoing restructuring efforts to reduce costs.
1) The document presents the quarterly results for 2010 of a bank. It highlights solid results given the current economic climate with lower provisions for credit losses and no new non-performing loans.
2) The bank saw a decline in income compared to previous periods but operating expenses also declined, leading to a higher operating profit. Net interest income decreased primarily from lower lending income.
3) The bank has initiated a Nordic growth plan to expand its corporate banking business across the Nordic region and strengthen its position through regional hubs in each country.
This document is the Coca-Cola Company's 2007/2008 Sustainability Review. It summarizes the company's performance across key sustainability issues including workplace, marketplace, environment, and community. Some highlights include a 28% increase in supplier audits from 2006 to 2007, a 2% improvement in water use efficiency and a 4% improvement in energy efficiency from 2006 to 2007. The review discusses Coca-Cola's sustainability strategy and goals to operate responsibly and integrate sustainability into business planning and decision making. It also outlines engagement with bottling partners to track sustainability metrics across the entire Coca-Cola system.
Financial Analysis - American International Group, Inc. is an internationa…BCV
Financial Analysis - American International Group, Inc. is an international insurance organization serving commercial, institutional and individual customers. AIG provides property-casualty insurance, life insurance and retirement services.pdf
Petrobras unveiled its strategic plan and business plan for 2010-2014 totaling $224 billion in investments. Key aspects include increasing domestic oil and gas production, with targets of 5.4 million boe/d by 2020. Major projects in the pre-salt region were added to come online between 2010-2014 including Guará Pilot FPSO, Tupi NE Pilot FPSO, and Baleia Azul FPSO. The plan aims to boost domestic refining and natural gas supply while expanding internationally in select markets and business segments. Local content is expected to provide nearly 70% of total investment needs during this period.
SEB's third quarter 2011 results presentationSEBgroup
- SEB reported higher operating income and profit for Q3 2011 compared to previous quarters, though profit was down 13% from Q2 2011.
- The bank maintained a strong capital position and liquidity reserve sufficient to cover maturing debt over the next two years.
- Net interest income was stable compared to previous quarters, with growth in lending and deposits offsetting lower non-customer income. Fees and commissions were also stable.
- The document is the transcript from CSX Corporation's Third Quarter 2008 Earnings Conference Call.
- It discusses CSX's strong financial performance in the third quarter, with record revenues, operating income, and earnings per share. Revenues grew 18% compared to the previous year.
- The transcript highlights improvements in safety and service quality while increasing productivity. It also notes that the railroad network responded well to storms during the quarter and operations have returned to normal levels.
This document provides an overview of Commercial Metals Company (CMC) and its quarterly performance. It discusses CMC's business model, including its vertical integration and product and geographic diversification. It also summarizes CMC's financial performance from 2003-2007, highlighting increasing sales, earnings, and shareholder returns over that period. Current market conditions and CMC's outlook are briefly addressed.
The document provides an overview of CMC's business model, current market conditions, earnings results, and operational metrics for the third quarter of 2008. It discusses CMC's strategy of vertical integration, product diversification, and global geographic dispersion. It also reviews demand trends, input costs, earnings, investments, segment performance, and operational details.
The document provides an overview of CMC's business model, current market conditions, earnings results, and operational metrics for the third quarter of 2008. It discusses CMC's strategy of vertical integration, product diversification, and global geographic dispersion. It also reviews earnings, sales, margins, capital investments, and performance across CMC's different business segments.
The document provides an overview of CMC, a global steel and metals company. It discusses CMC's business model which focuses on vertical integration, product diversification, and global geographic dispersion. It also summarizes CMC's track record of conservative management and 30 consecutive years of profitability. Finally, it outlines CMC's five operating segments and overall strategy of achieving a global reach through regional focus and growth in key markets.
The document provides an overview of CMC's business model which focuses on vertical integration, product diversification, and global geographic dispersion. It then discusses CMC's current market conditions and outlook across different geographic regions and product lines, including details on earnings expectations, capital investment projects, and quarterly financial statistics. The document also reviews factors influencing costs and selling prices for CMC's various steel manufacturing operations in North America.
CMC is a global steel and metals company with over 14,000 employees worldwide. It manufactures, recycles, markets, and distributes steel and metal products through a network of over 200 locations globally. CMC operates steel minimills, fabrication plants, service centers, and recycling facilities. It aims to be vertically integrated and diversified in its product offerings and geographic reach.
CMC is a global steel and metals company with over 14,000 employees worldwide. It manufactures, recycles, markets, and distributes steel and metal products through a network of over 200 locations globally. CMC operates steel minimills, fabrication plants, service centers, and recycling facilities. It aims to vertically integrate its operations from scrap processing to steel fabrication to provide a hedge against steel and metal price fluctuations.
The document summarizes CSX Corporation's first quarter 2008 earnings conference call. It discusses record first quarter revenues, operating income, and earnings per share. It also mentions improved safety and customer service performance to record levels. Finally, it provides overviews of the company's operations and sales/marketing results, noting increased revenues, productivity improvements, and service enhancements.
The document summarizes CSX Corporation's first quarter 2008 earnings conference call. It discusses record revenues, operating income, and earnings per share for the quarter. Safety and customer service metrics also reached record levels. The operating ratio improved to 77%. Various CSX executives provided details on operations, sales and marketing performance, and financial results for the quarter. Revenues increased across most markets, driven largely by price increases. Expenses grew at a slower rate due to productivity improvements.
The document summarizes the company's third quarter 2007 earnings conference call. It discusses strong financial performance with EPS increasing 24% compared to the previous year. Operations are discussed as being safe and reliable with improvements in on-time performance, dwell times, and velocity. The focus on productivity is helping to lower the operating ratio. Revenues increased 3% due to pricing gains supported by good service levels.
In the second quarter of 2007, CSX reported strong financial results with record revenues of $2.53 billion, up 5% from the previous year. Comparable earnings per share increased 22% to $0.71 compared to $0.58 in the prior year. Surface transportation operating income was up 16% to $603 million, driven by pricing gains and productivity improvements that helped lower the operating ratio to 76.2%, a 2.4 point improvement over 2006. Revenues and operating income increased despite declines in certain markets, demonstrating the company's ability to leverage pricing strength and offset volume weakness.
In the second quarter of 2007, CSX reported strong financial results with record revenues of $2.53 billion, up 5% from the previous year. Comparable earnings per share increased 22% to $0.71 compared to $0.58 in the prior year. Surface transportation operating income was up 16% to $603 million, driven by pricing gains and productivity improvements that helped lower the operating ratio to 76.2%, a 2.4 point improvement over 2006. Revenues and operating income increased despite lower volumes as pricing actions produced gains.
The document summarizes CSX Corporation's fourth quarter 2007 earnings conference call. The summary includes:
1) CSX reported strong earnings growth and record results for surface transportation despite higher fuel costs. Safety and service metrics were at all-time best levels.
2) Operations improvements including productivity gains helped lower the operating ratio. Revenues increased 8% to a record $2.6 billion due to yield management and improved service.
3) Comparable operating income increased 26% to $601 million, driven by revenue strength, cost control, and lower reserve requirements, which overcame the fuel cost impact. Expenses were up 3% overall but down 2% excluding fuel.
In the first quarter of 2007, CSX reported earnings per share of $0.52 compared to $0.53 in the first quarter of 2006. Excluding insurance recoveries, comparable earnings per share was $0.50. Surface transportation operating income was $469 million, compared to $487 million in 2006, excluding insurance recoveries in both periods. Revenue increased 4% to $2.422 billion driven by a 10% increase in revenue per unit, offset by a 5% decline in volumes. Expenses increased primarily due to higher materials, supplies and other costs and depreciation, though this was partially offset by productivity gains.
In the first quarter of 2007, CSX reported earnings per share of $0.52 compared to $0.53 in the first quarter of 2006. Excluding insurance recoveries, comparable earnings per share were $0.50. Surface transportation operating income was $469 million, compared to $487 million in 2006, excluding insurance recoveries in both periods. Revenue increased 4% to $2.422 billion driven by strong pricing, despite a 5% decline in volumes. The company also discussed trends in expenses, operating metrics, future growth opportunities, and shareholder capital allocation.
This presentation summarizes CSX's second quarter 2006 earnings. It discusses CSX's financial results including earnings per share for the second quarter and comparable earnings per share excluding certain items. It also provides operational updates on key metrics like safety performance, on-time performance, asset utilization, and velocity. Safety performance and productivity continue to improve due to CSX's ONE Plan initiatives and leadership focus on operational execution and reliability.
The document summarizes CSX's second quarter 2006 earnings presentation. It discusses strong financial results including record revenues that were up 12% and operating income increasing 23%. It also highlights continued momentum in safety and operational performance from implementing the ONE Plan, as well as an outlook for further growth supported by equity actions reflecting the company's strong fundamentals.
This document summarizes CSX Corporation's presentation at the Citigroup Transportation Conference in November 2007. The presentation outlines CSX's positive fourth quarter revenue outlook, strong financial results, and strategies to drive earnings growth. CSX aims to achieve 10-12% annual operating income growth and a mid-low 70s operating ratio by 2010 through productivity improvements, value pricing, and total service integration.
1) CSX reported positive fourth quarter revenue outlooks for several industries including agricultural products, chemicals, coal, and metals, while noting automotive and food & consumer as neutral or unfavorable.
2) CSX has delivered strong financial results in recent years and is targeting 10-12% annual operating income growth and 15-17% annual earnings per share growth through 2010.
3) Key strategies like restructuring, productivity initiatives, and value pricing have driven margins higher, with the operating ratio goal of the mid-low 70s by 2010.
Kansas City Southern reported financial results for the first quarter of 2009. Revenue decreased 23% compared to the first quarter of 2008 due to declines in volumes across most commodities as a result of the weakened economy. However, core pricing levels increased compared to the previous year. The company significantly reduced operating expenses through cost control measures such as consolidating train operations and returning leased equipment. While economic conditions are expected to remain challenging through 2009, the company is focused on maintaining core pricing increases and pursuing new business opportunities to drive long term growth.
Owens & Minor reported financial results for the second quarter of 2008. Revenue increased 2.3% from the second quarter of 2007 to $1.795 billion. Gross margin as a percentage of revenue was 10.67%, up slightly from the prior year. Selling, general and administrative expenses decreased as a percentage of revenue. Earnings per diluted share increased 22% to $0.59 compared to the second quarter of 2007. For 2008, the company expects revenue growth between 5-7% and earnings per diluted share between $2.30-$2.40, up from previous guidance.
1) The document discusses 3M's strategy for growth through customer value enhancement, continued commitment to operational excellence, and plans to drive higher earnings.
2) 3M aims to grow its core business, pursue complementary acquisitions, build new businesses through adjacencies and emerging business opportunities, and focus on international growth.
3) Near term actions to drive growth include capital investments in core manufacturing capacity expansions, 2006 acquisitions mostly of small companies, and a manufacturing strategy focused on strategic needs in the core or near adjacencies through bolt-on acquisitions.
This document is a disclaimer for an investment presentation by Profarma. It states that the presentation does not constitute an offering or form the basis of any contract. The information provided should not be relied upon for investment decisions and contains forward-looking statements that are subject to risks. The document contains summary information that is not intended to be complete without additional context.
- Avnet reported record earnings per share of $0.69 for the first quarter of fiscal year 2008, representing 25% year-over-year growth.
- Revenue increased 12.3% year-over-year to $4.098 billion, driven by acquisitions.
- Both the Electronics Marketing and Technology Solutions segments saw revenue and profitability increases compared to the prior year quarter.
The document discusses forward-looking statements and risks associated with them. It provides an overview of Atmos Energy, including its scope of operations across 12 states in the utility segment and 22 states in the nonutility segment. It also summarizes Atmos Energy's financial and operational performance over time, including earnings growth, dividend increases, and acquisition history such as the purchase of TXU Gas.
Patrick D. Campbell, Senior Vice President and CFOfinance10
The document provides an agenda for a two-day 3M investor conference. Day one includes presentations from several senior vice presidents on topics like financial results, health care business, and safety services. There will be product displays and tours of the 3M Innovation Center. Day two includes presentations on supply chain operations and tours of a pilot plant and main Hutchinson manufacturing plant. The document also provides forward-looking statements about 3M's financial projections and discloses risk factors that could affect results.
CSX Corporation presented at the BB&T Transportation Conference on February 15, 2006. CSX discussed its financial and operational strategies for 2006, which aim to deliver shareholder value through profitable growth and margin expansion. CSX also reviewed its strong financial performance in recent years, achieved through yield improvement, productivity gains, and an improving operating culture. Going forward, CSX expects steady double-digit growth in operating income, earnings, and free cash flow through 2010.
The document provides an overview of CMC's business model and current market conditions for the 4th quarter of 2008. It summarizes CMC's key business segments, product lines, capital projects, financial statistics, and discusses challenges in the global steel market including falling prices, reduced demand, and excess inventory. It analyzes factors such as raw material costs, sales prices, margins, and operating profits across CMC's divisions.
The document provides an overview of CMC's business model and current market conditions for the 4th quarter of 2008. It summarizes CMC's key business segments, current projects, liquidity position, financial statistics, and discusses challenges in the global steel market including falling prices, reduced demand, and excess inventory. It analyzes performance and outlook for CMC's Americas and international operations.
This document summarizes notes from the 4th Annual Global Steel CEO Forum held by Goldman Sachs on December 4, 2008. It discusses the current challenging market conditions for the steel industry due to the global liquidity crisis, including falling prices, production cutbacks, and declining demand. Updates are provided on conditions and outlook for different markets, including further price declines and inventory reductions in North America, continued cutbacks and oversupply in Europe and the Middle East, and China's efforts to stimulate domestic demand and infrastructure spending to boost its economy and steel demand. Breaking the negative cycle depends on the effectiveness of global government intervention programs and restoration of confidence.
The document discusses how Commercial Metals Company (CMC) is different from other steel companies. It notes that CMC focuses on long steel products, has diversified its business across five segments including steel mills, fabrication, recycling, and marketing, and has a track record of consistent profitability and financial strength over 26 years. The document aims to show investors that CMC's strategy and performance set it apart from other steel industry firms.
The document discusses how Commercial Metals Company (CMC) is different from other steel companies. It notes that CMC focuses on long steel products, has diversified its business across five segments including steel mills, fabrication, recycling, and marketing, and has a track record of consistent profitability and financial strength over 26 years. The document aims to show investors that CMC's strategy and performance set it apart from other steel industry firms.
The document discusses how Commercial Metals Company (CMC) is different from other steel companies. It notes that CMC focuses on long steel products, has diversified its business across five segments including steel mills, fabrication plants, recycling, and marketing/distribution, and has a track record of consistent profitability and financial strength over 26 years. The document aims to show shareholders that CMC's business strategy and performance set it apart from other steel industry firms.
This document is Commercial Metals Company's 2005 Annual Report. It summarizes the company's financial performance for fiscal year 2005, including record net earnings of $286 million on net sales of $6.6 billion, up from $132 million on $4.8 billion the previous year. It discusses positive results across the company's business segments, including Domestic Mills, Domestic Fabrication, Recycling, and Marketing & Distribution. The annual report also provides an overview of the company's operations, strategic focus on vertical integration, and capital expenditure plans.
This document is the 2005 annual report for Commercial Metals Company. It summarizes the company's financial performance for fiscal year 2005, which saw record net earnings of $286 million on net sales of $6.6 billion, up from $132 million on $4.8 billion the previous year. The company's domestic mills and fabrication segments significantly outperformed the prior year due to higher steel prices and strong end-user demand. While operations in Poland saw a decline from the prior year, performance improved in the fourth quarter. Overall, the company benefited from favorable market conditions across most of its businesses.
This document is Commercial Metals Company's 2005 Annual Report which summarizes the company's financial performance for fiscal year 2005. Some key points:
- The company achieved record net earnings of $286 million on record net sales of $6.6 billion in fiscal year 2005, up from $132 million in net earnings on $4.8 billion in net sales in fiscal year 2004.
- All of the company's business segments - Domestic Mills, Domestic Fabrication, Recycling, and Marketing & Distribution - experienced strong financial performance and profitability in 2005.
- The company continued its strategy of vertical integration and diversification which has helped it perform well in changing market conditions.
- For
This annual report summarizes Commercial Metals Company's financial performance in fiscal year 2006. Some key points:
- Record net earnings of $356 million on $7.6 billion in net sales, up from $286 million on $6.6 billion the prior year.
- All five business segments (domestic mills, CMCZ, domestic fabrication, recycling, and marketing/distribution) performed well due to favorable market conditions and the company's vertical integration strategy.
- Domestic mills set new records for sales, production, and shipments as metal spreads increased. The copper tube mill's operating profit increased significantly year-over-year.
This annual report summarizes Commercial Metals Company's financial performance in fiscal year 2006. Some key points:
- Record net earnings of $356 million on $7.6 billion in net sales, up from $286 million on $6.6 billion the prior year.
- All five business segments (domestic mills, CMCZ, domestic fabrication, recycling, and marketing/distribution) performed well due to favorable market conditions and the company's vertical integration strategy.
- Domestic mills set production and shipment records while benefiting from high metal spreads. CMCZ also improved significantly through organizational changes and new investments.
Commercial Metals Company reported record financial results for fiscal year 2006 with net sales of $7.6 billion, net earnings of $356 million, and diluted earnings per share of $2.89. All five of CMC's business segments performed well, with domestic steel mills, CMCZ (the Polish steel operation), and recycling being especially strong. Market conditions were favorable, especially for non-residential construction, and CMC executed well. The company also invested in new facilities, acquisitions, and branding initiatives. CMC has high confidence in its future due to the continued expected strength of its end markets and its vertically integrated business model.
Commercial Metals Company had a profitable year in 2007, approaching the record profits of 2006. The company made several strategic acquisitions, announced plans to build a new micro mill, and reorganized internally to take advantage of growth opportunities. All five of the company's business segments performed well. Safety remains a major focus.
Commercial Metals Company had a profitable year in 2007, approaching the record profits of 2006. The company made several strategic acquisitions, announced plans to build a new micro mill, and reorganized internally to take advantage of growth opportunities. All five of the company's business segments performed well. Safety remains a major focus.
Commercial Metals Company had a profitable year in 2007, with earnings approaching record levels from 2006. The company made several strategic acquisitions, announced plans to build a new micro mill, and reorganized internally into two geographic business units. Net sales increased 16% to $8.3 billion while net earnings remained steady at $355 million. The company continued pursuing its strategies of product diversification, vertical integration, and global expansion.
This annual report summarizes Commercial Metals Company's (CMC) performance in fiscal year 2008. Some key points:
- Net earnings were $232 million on $10.4 billion in sales, down from the previous year due to a large LIFO expense.
- CMC continued investing in new facilities, technology, and international and domestic capacity expansion.
- Demand was strong globally due to emerging markets, though slowed at the end of the fiscal year. CMC's strategy focuses on vertical integration and product/geographic diversification.
This annual report summarizes Commercial Metals Company's (CMC) performance in fiscal year 2008. Some key points:
- Net earnings were $232 million on $10.4 billion in sales, down from the previous year due to a large LIFO expense.
- CMC continued investing in new facilities, technology, and international and domestic capacity expansion.
- Demand was strong globally due to emerging markets, though slowed at the end of the fiscal year. CMC's strategy focuses on vertical integration and product/geographic diversification.
This annual report summarizes Commercial Metals Company's (CMC) performance in fiscal year 2008. Some key points:
- Net earnings were $232 million on $10.4 billion in sales, down from the previous year due to a large LIFO expense.
- CMC continued investing in new facilities, technology, and international and domestic capacity expansion.
- Demand was strong globally due to emerging markets, though slowed at the end of the fiscal year. CMC's strategy focuses on vertical integration and product/geographic diversification.
The Annual Meeting of Stockholders of Commercial Metals Company will be held on January 22, 2009 at 10:00 am in Irving, Texas. The purposes of the meeting are to elect three directors, ratify the appointment of the independent accounting firm, and vote on a stockholder proposal regarding adding protections for sexual orientation and gender identity to the company's non-discrimination policy. Stockholders of record as of November 24, 2008 are entitled to vote.
The Annual Meeting of Stockholders of Commercial Metals Company will be held on January 22, 2009 at 10:00 am in Irving, Texas. The purposes of the meeting are to elect three directors, ratify the appointment of the independent accounting firm, and vote on a stockholder proposal regarding adding protections for sexual orientation and gender identity to the company's non-discrimination policy. Stockholders of record as of November 24, 2008 are entitled to vote.
STREETONOMICS: Exploring the Uncharted Territories of Informal Markets throug...sameer shah
Delve into the world of STREETONOMICS, where a team of 7 enthusiasts embarks on a journey to understand unorganized markets. By engaging with a coffee street vendor and crafting questionnaires, this project uncovers valuable insights into consumer behavior and market dynamics in informal settings."
OJP data from firms like Vicinity Jobs have emerged as a complement to traditional sources of labour demand data, such as the Job Vacancy and Wages Survey (JVWS). Ibrahim Abuallail, PhD Candidate, University of Ottawa, presented research relating to bias in OJPs and a proposed approach to effectively adjust OJP data to complement existing official data (such as from the JVWS) and improve the measurement of labour demand.
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
Independent Study - College of Wooster Research (2023-2024) FDI, Culture, Glo...AntoniaOwensDetwiler
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
Understanding how timely GST payments influence a lender's decision to approve loans, this topic explores the correlation between GST compliance and creditworthiness. It highlights how consistent GST payments can enhance a business's financial credibility, potentially leading to higher chances of loan approval.
BONKMILLON Unleashes Its Bonkers Potential on Solana.pdfcoingabbar
Introducing BONKMILLON - The Most Bonkers Meme Coin Yet
Let's be real for a second – the world of meme coins can feel like a bit of a circus at times. Every other day, there's a new token promising to take you "to the moon" or offering some groundbreaking utility that'll change the game forever. But how many of them actually deliver on that hype?
How Does CRISIL Evaluate Lenders in India for Credit RatingsShaheen Kumar
CRISIL evaluates lenders in India by analyzing financial performance, loan portfolio quality, risk management practices, capital adequacy, market position, and adherence to regulatory requirements. This comprehensive assessment ensures a thorough evaluation of creditworthiness and financial strength. Each criterion is meticulously examined to provide credible and reliable ratings.
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In a tight labour market, job-seekers gain bargaining power and leverage it into greater job quality—at least, that’s the conventional wisdom.
Michael, LMIC Economist, presented findings that reveal a weakened relationship between labour market tightness and job quality indicators following the pandemic. Labour market tightness coincided with growth in real wages for only a portion of workers: those in low-wage jobs requiring little education. Several factors—including labour market composition, worker and employer behaviour, and labour market practices—have contributed to the absence of worker benefits. These will be investigated further in future work.
[4:55 p.m.] Bryan Oates
OJPs are becoming a critical resource for policy-makers and researchers who study the labour market. LMIC continues to work with Vicinity Jobs’ data on OJPs, which can be explored in our Canadian Job Trends Dashboard. Valuable insights have been gained through our analysis of OJP data, including LMIC research lead
Suzanne Spiteri’s recent report on improving the quality and accessibility of job postings to reduce employment barriers for neurodivergent people.
Decoding job postings: Improving accessibility for neurodivergent job seekers
Improving the quality and accessibility of job postings is one way to reduce employment barriers for neurodivergent people.
Eco-Innovations and Firm Heterogeneity.Evidence from Italian Family and Nonf...
csx 2Q 08
1. Second Quarter 2008
Earnings Conference Call
1
Forward-Looking Disclosure
This information and other statements by the company 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, cost-savings, expenses, or other financial items; statements of management’s plans, strategies and
objectives for future operation, and management’s expectations as to future performance and operations and the time
by which objectives will be achieved; statements concerning proposed new products and services; and statements
regarding future economic, industry or market conditions or performance. Forward-looking statements are typically
identified by words or phrases such as “believe,” “expect,” “anticipate,” “project,” “estimate” 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 does update 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 these forward-looking statements. Factors that may cause actual results to
differ materially from those contemplated by these forward-looking statements include, among others: (i) the company’s
success in implementing its financial and operational initiatives; (ii) changes in domestic or international economic or
business conditions, including those affecting the rail 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; and (v) the outcome of claims and litigation involving or affecting the company.
Other important assumptions and factors that could cause actual results to differ materially from those in the forward-
looking statements are specified in the company’s SEC reports, accessible on the SEC’s website at www.sec.gov and
the company’s website at: http://investors.csx.com/
2
2. Executive Summary
Michael Ward
Chairman, President and
Chief Executive Officer
Second quarter overview . . .
Delivered record revenues,
Second Quarter
operating income and EPS
Earnings Per Share
$0.93
$0.89
Safety and service levels
remain strong
$0.71 $0.71 25%
Increase
Revenue growth strong on
diverse portfolio of business
Operating ratio improves,
overcoming fuel headwind
Reported Comparable
2007 2008
Note: Comparable results exclude income tax benefits
4
3. Operations Review
Tony Ingram
Executive Vice President
Chief Operating Officer
Leadership, discipline and execution
Safety performance remains
near record levels
Service near historical best
Performance
despite challenging conditions Excellence
Service Execution
Service Execution
Productivity gains helping to
offset the cost of inflation Productivity Discipline
Productivity Discipline
Safety Leadership
Safety Leadership
6
4. Helping lead one of the nation’s safest industries
FRA Personal Injury FRA Train Accidents
13 Week 13 Week
Average Average
1.25 2.36
1.32
3.14
1.25 3.06
1.22 1.22
2.86
1.16 2.80
2.73
Q2 Q3 Q4 Q1 Q2 Q2 Q3 Q4 Q1 Q2
2007 2007 2007 2008 2008 2007 2007 2007 2008 2008
Rolling 12-Month Averages
7
Network efficiency resilient in the second quarter
Dwell Time (hours) Velocity (mph)
13 Week 13 Week
Average Average
23.3 hrs 20.0 mph
24.3
20.9 20.9
20.8
23.7
20.4
23.2 20.1
22.8 22.7
Q2 Q3 Q4 Q1 Q2 Q2 Q3 Q4 Q1 Q2
2007 2007 2007 2008 2008 2007 2007 2007 2008 2008
Rolling 12-Month Averages
8
5. On-time performance declines
On-Time Originations On-Time Arrivals
13 Week 13 Week
Average Average
75% 65%
72%
81% 71%
70%
79%
79% 69%
78%
66%
77%
Q2 Q3 Q4 Q1 Q2 Q2 Q3 Q4 Q1 Q2
2007 2007 2007 2008 2008 2007 2007 2007 2008 2008
Rolling 12-Month Averages
9
Customer satisfaction scores remain strong
CSX’s overall rating remains
Customer Satisfaction
near historical high
Overall Score
Satisfaction continues to lead
the peer group average
Rails have significantly
closed the gap with trucks
7.1 6.9
6.4
6.3
Q2 2005 Q2 2006 Q2 2007 Q2 2008
CSX Truck Other Railroads
Note: Results based on an independent third-party study of CSX customers
10
6. On track to deliver targeted productivity gains
2008-2010
Continued focus on service
and efficiency through design Productivity Plan
Fuel Efficiency
Network
Process improvement teams 30%
40%
driving long-term savings
Total Service Integration
takes service to next level
Car & Terminal Locomotive
15% 15%
Targeting over $400 million of productivity benefits through 2010
11
Operations wrap-up . . .
Focused on regaining momentum
Striving for industry leadership in safety and service
Customer satisfaction continues to lead peers
Productivity initiatives delivering value
12
7. Sales and Marketing Review
Clarence Gooden
Executive Vice President
Sales and Marketing
Revenues increased 15% to $2.9 billion
Record quarterly revenues
Second Quarter
Revenue in Millions
Yield management continues
to offset softer volumes
$377 $2,907
Consistent service driving
$2,530
strong revenue growth
Secular strength reflected in
six years of revenue growth
2007 Growth 2008
14
8. Revenue growth is strong across most markets
Second Quarter
Year-Over-Year Revenue Growth
Coal 29%
Agricultural Products 29%
Phosphates & Fertilizers 23%
Metals 15%
Chemicals 15%
Intermodal 12%
Emerging Markets 4%
Revenues impacted by
Food & Consumer 2% the continued softness in
the housing and automotive
Forest Products (1%)
sectors of the economy
Automotive (8%)
15
Price and fuel cost recovery drive RPU growth
Year-Over-Year Change
18.3%
14.4%
10.5%
8.1% 8.0%
6.9%
7.1% 6.8%
6.7%
6.5% 6.5% 6.4%
Q1 2007 Q2 2007 Q3 2007 Q4 2007 Q1 2008 Q2 2008
Price Increase on 'Same Store Sales' Total Revenue per Unit
Note: ‘Same Store Sales’ price increases exclude impacts from fuel and mix
16
9. Merchandise revenue increases 13%
Second Quarter Yield management continues
2008 versus 2007 to offset softer volumes
Continued weakness in
RPU 17%
housing related markets
Volume (4%)
Revenue 13%
Strength in agriculture,
chemicals, metals & fertilizer
2007 Change 2008
RPU $ 1,804 $ 314 $ 2,118
Volume 703 (27) 676
(thousands)
Revenue $ 1,268 $ 164 $ 1,432
(millions)
17
Coal revenue increases 29%
Second Quarter Export strength offsets
2008 versus 2007 decline in utility market
Overall pricing environment
RPU 26%
remains favorable
Volume 2%
Revenue 29%
Utility inventories are now
below prior year levels
2007 Change 2008
RPU $ 1,369 $ 358 $ 1,727
Volume 466 11 477
(thousands)
Revenue $ 638 $ 186 $ 824
(millions)
18
10. Automotive revenue declines 8%
Second Quarter Softer economy and tight
2008 versus 2007 credit impacting auto sales
Fuel prices causing switch
RPU 19%
from SUV’s to compacts
Volume (23%)
Revenue (8%)
Higher yields reflect stronger
pricing and fuel recovery
2007 Change 2008
RPU $ 1,874 $ 354 $ 2,228
Volume 119 (27) 92
(thousands)
Revenue $ 223 ($ 18) $ 205
(millions)
19
Intermodal revenue increases 12%
Second Quarter Record quarterly revenue
2008 versus 2007
RPU higher on fuel recovery
and favorable traffic mix
RPU 14%
Volume (2%)
Domestic strength partially
Revenue 12%
offsets international softness
2007 Change 2008
RPU $ 636 $ 90 $ 726
Volume 539 (9) 530
(thousands)
Revenue $ 343 $ 42 $ 385
(millions)
20
11. Intermodal reports record second quarter profit
Intermodal Operating Bottom line focus continues
to drive improving results
Income in Millions
$76
Revenue growth overcomes
$71
softer volume environment
$63
Productivity partially offsets
$55
rising fuel costs
Q2 2005 Q2 2006 Q2 2007 Q2 2008
21
Third quarter revenue outlook is positive
Third Quarter Outlook
Agricultural Products
Percent of Revenue
Chemicals
10%
Coal, Coke & Iron Ore
Favorable
15%
Intermodal
Metals
Phosphate & Fertilizer
Emerging Markets
Neutral
Food & Consumer
75%
Automotive
Unfavorable
Favorable Neutral Unfavorable
Forest Products
22
12. Financial Results
Oscar Munoz
Executive Vice President
Chief Financial Officer
Double-digit growth in operating income and EPS
Second Quarter Results
Dollars in millions, except EPS 2008 2007 Variance
Revenue $ 2,907 $ 2,530 $ 377
Expense 2,190 1,918 (272)
Operating Income $ 717 $ 612 $ 105
Other Income (net) 6 3 3
Interest Expense (133) (101) (32)
Income Taxes (205) (190) (15)
Net Income $ 385 $ 324 $ 61
Fully Diluted Shares in Millions 415.1 458.9 43.8
Earnings Per Share $ 0.93 $ 0.71 $ 0.22
24
13. Core earning power improves 20%
Operating Income in Millions
$124 $717
$612 ($19)
Q2 2007 YOY Reserve Earnings Q2 2008
Adjustments Momentum
25
Core operating ratio improves 320 basis points
Operating Ratio Drivers
(3.2%)
2.0%
0.7%
75.8%
75.3%
Q2 2007 YOY Reserve Fuel Core Q2 2008
Adjustments Headwind Improvement
Note: Fuel headwind reflects the revenue and expense impact from a $222 million year-over-year increase in fuel prices
26
14. Expenses up 14% overall; up 3% excluding fuel
Second Quarter Operating Expenses
Year-Over-Year Change
Labor and Fringe ($ 10) (1%)
Material, Supplies, and Other 9%
43
Fuel 70%
221
Equipment Rent 5%
5
Depreciation 2%
5
Inland Transportation 13%
8
Total Expenses 14%
$ 272
27
Fuel price more than offsets efficiency and volume
Gallons Per Thousand Second Quarter
Gross Ton Miles Fuel Analysis in Millions
1.26
1.24
1.22 2007 Fuel Expense $ 316
1.18
Increase in Price 222
Change in Volume/Mix (4)
Fuel Efficiency (9)
Net Non-locomotive Fuel 12
2008 Fuel Expense $ 537
Q2 2005 Q2 2006 Q2 2007 Q2 2008
28
15. Labor and Fringe decrease 1%
Employee Headcount Second Quarter
Labor Analysis in Millions
34,718
34,419
33,630
33,159
2007 Labor Expense $ 743
Wage & Benefit Inflation 22
Labor Productivity, Other (32)
2008 Labor Expense $ 733
Q2 2005 Q2 2006 Q2 2007 Q2 2008
Note: Headcount reflects the company’s transportation businesses only
29
MS&O increase 9%
Cycling the impact of casualty
MS&O Expense
reserve adjustments
Dollars in Millions
Proxy and related litigation
$43 $513
costs, as well as inflation are
also key drivers
$470
Q2 2007 Variance Q2 2008
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16. Rent expenses increase 5%
Payable Days Per Load Second Quarter
Rents Analysis in Millions
Total Carloads Excluding Multilevels
18.7
15.6 2007 Rent Expense $ 107
15.3
14.8 14.8
14.2
12.8 Inflation 1
12.4
Volume/Other (3)
Equipment Utilization 7
2008 Rent Expense $ 112
Q2 2005 Q2 2006 Q2 2007 Q2 2008
Note: Reflects equipment utilization in the carload network on freight cars where CSX incurs rent
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Other expenses increase 5%
Higher capital base increased
Second Quarter
depreciation expense
Expense in Millions
$227
$222 Partially offset by lower rates
from prior year life studies
Inland Transportation driven
by transcontinental volumes
$68 and inflation
$60
Q2 2007 Q2 2008
Depreciation Inland Transportation
32
17. Dividend and share repurchase update . . .
Quarterly Dividend Cumulative Share
Repurchase in Billions
$3.1
$0.22
$2.9
$2.6
$0.18
$0.15 $2.1
$0.12
$0.10
$1.2
$0.07
$0.6
Q4 Q3 Q1 Q3 Q2 Q3 Q1 Q2 Q3 Q4 Q1 Q2
2005 2006 2007 2007 2008 2008 2007 2007 2007 2007 2008 2008
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Financial targets for full-year 2008 . . .
Earnings per share at higher
end of $3.40 – $3.60 range
Guidance driven by:
— Price increases of 6%+
— Continued productivity gains
— Diverse portfolio of business
Note: Price increases of 6%+ are stated on a same store sales basis
34
18. Concluding Remarks
Michael Ward
Chairman, President and
Chief Executive Officer
Relentless pursuit of excellence . . .