CSX service recognized with 'Thompson Award'

CSX has received the inaugural W.F. Thompson Award for Class I Operating Performance from financial analyst firm Loop Capital.

The award recognizes a Class I's operational performance in a calendar year, CSX officials said in a news release.

"By any measure, CSX had a strong year in 2023," said Rick Paterson, managing director of Loop Capital, in his final 2023 weekly report on rail operational and service trends. "[CSX] was the first of the four U.S. Class I railroads to recover from the 2022 service crisis, by a wide margin, and quickly locked in strong and remarkably consistent operating performance over the course of the year."

Paterson added that CSX's average network train velocity last year was its highest ever recorded, demonstrating minimal week-to-week volatility. He also cited that the railroad reduced terminal dwell in 2023, ending the year with an average dwell that ranks third-best in its history.

CSX Executive Vice President and Chief Operating Officer Mike Cory attributed the railroad’s consistent service excellence to a robust operating model.

"The model has been pivotal for service improvement, and our ONE CSX transformation of the railroad culture is taking hold and driving us to new levels of performance," he said.

To learn more about the ONE CSX model, click here to read Managing Editor Jeff Stagl's cover story in Progressive Railroading's August issue.