With precision scheduled railroading firmly in place after nearly four years, CSX (NASDAQ: CSX) is seeking to gain more market share through short-term and long-term opportunities, in part because of how the railroad addressed capacity needs in the third quarter.
“If you’d had this kind of traffic surge across the rail network in North America four, five years ago, we would be now talking about gridlock across all the major cities in the country and we wouldn’t be doing anything,” said CSX President and CEO Jim Foote during his company’s third-quarter earnings call late Wednesday. Foote was referring to the fast pace of the recovery in North American rail volumes in the third quarter following a COVID-19 pandemic-induced volume trough in April and May.
But “now with the common mindset of how you run a railroad, we were able to respond. We’re able to pivot. We are nimble. We can add capacity, we could shrink capacity. We can rightsize our business and we can do that much more effectively and much more logically and thoughtfully,” he said.
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Source: Freight Waves