JACKSONVILLE, Fla., March 31, 2014 /PRNewswire/ -- CSX (NYSE: CSX) is in the midst of an "exciting and transformative time," leveraging the most diverse portfolio in company history, wrote Michael Ward, CSX chairman, president and chief executive officer, in the company's 2013 Annual Report delivered this past week.
"The CSX you see today has overcome a challenging macroeconomic environment while transforming itself to leverage the growth opportunities that exist in nearly all of its businesses," Ward wrote. "Today, CSX is a vibrant, healthy company that is meeting an essential need for the country and driving service excellence for our customers while investing in our infrastructure, employees and the communities that we serve."
A combination of macro forces and strategic investments propelled CSX to strong performance despite the challenging external environment, including the slowly recovering economy and transformation in the energy markets. The company now enjoys the most diverse portfolio in its history, as growth in the merchandise and intermodal businesses help to offset declining coal revenue.
The company's Annual Report outlines actions to further capitalize on growth opportunities and meet strategic challenges, including:
- Investing to support changes in energy markets, which are creating new opportunities for job growth, manufacturing resurgence and energy independence;
- Ongoing investment in double-stack intermodal capabilities through the National Gateway and new or expanded regional terminals;
- Continued pursuit of record customer satisfaction through improved communication and collaboration;
- Consistently strong safety performance, building on CSX's performance as the nation's safest Class I railroad in 2013, with the fewest accidents and injuries; and
- Focus on improving the company's environmental footprint, increasing sustainable development activities and amplifying engagement with local communities.