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JACKSONVILLE - CSX Corp. (NASDAQ:CSX), the $60 billion market cap transportation giant with a robust 46.9% gross profit margin, announced Wednesday that President and CEO Joe Hinrichs and Executive Vice President and CFO Sean Pelkey will speak at J.P. Morgan’s U.S. All Stars Conference in London on September 17.
The executives will address the conference at 10 a.m. British Summer Time (5 a.m. EDT), according to a press release statement from the transportation company. The presentation will be broadcast live via webcast on the company’s investor relations website, with a replay available afterward. According to InvestingPro data, CSX has demonstrated strong financial stability, maintaining dividend payments for 45 consecutive years.
CSX, headquartered in Jacksonville, Florida, provides rail, intermodal and rail-to-truck transload services across various markets including energy, industrial, construction, agricultural and consumer products.
The company’s network connects major metropolitan areas throughout the eastern United States, where approximately two-thirds of the nation’s population resides. CSX also links more than 240 short-line railroads and over 70 ocean, river and lake ports with population centers and farming communities.
The transportation provider has operated for nearly 200 years, playing a role in U.S. economic and industrial development.
In other recent news, CSX Corp. has been the focus of several developments. Jefferies has adjusted its price target for CSX, lowering it from $40 to $38 while keeping a Buy rating. This change was attributed to the removal of a takeover premium previously factored into the stock. Similarly, TD Cowen also reduced its price target for CSX to $38, maintaining a Buy rating, following Berkshire Hathaway’s decision not to pursue an acquisition of the company. Warren Buffett confirmed that Berkshire Hathaway is not looking to acquire any railroad companies, including CSX, which led to a notable market reaction. Additionally, CSX announced that its CEO, Joe Hinrichs, will be speaking at Morgan Stanley’s 13th Annual Laguna Conference. This event will be available via live webcast on the company’s investor relations website. Lastly, on the regulatory front, the Trump administration has dismissed Surface Transportation Board member Robert Primus, citing misalignment with the administration’s agenda.
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