CSX reports progress in implementing Precision Scheduled Railroading
CSX CEO E. Hunter Harrison said, "CSX has made very good progress in the last 60 days in transitioning its operating model to Precision Scheduled Railroading, and I'm confident that many of the challenges we and our customers have recently faced are behind us. (...) The railroad is now returning to a normal operating rhythm, and our performance metrics are improving. Fluidity in our terminals largely has been restored and we are appropriately resourced to continue making progress." The company continues to expect free cash flow before dividends of around $1.5B and record efficiency gains for 2017; the company is refining its 2017 full-year guidance from an operating ratio in the mid-60s to an operating ratio around the high end of the mid-60s and earnings per share growth from around 25 percent to a range of 20-25 percent, in each case after excluding restructuring charges.