CSX · SNDR 10-KFeb 20 '26
“While we have had agreements with all of the Class I railroads, our primary contracts for railroad transportation in support of our intermodal operations are currently with CSX Transportation, the UP, and the CPKC.”
UNP · SNDR 10-KFeb 20 '26
“While we have had agreements with all of the Class I railroads, our primary contracts for railroad transportation in support of our intermodal operations are currently with CSX Transportation, the UP, and the CPKC.”
| Stage | CSX | % of rev | UNP | % of rev | Gap · A − B |
|---|---|---|---|---|---|
| Revenue | $4.0B | 100.00% | $7.2B | 100.00% | UNP ×1.79 |
| Gross profit | $3.5B | 86.48% | $5.2B | 72.32% | CSX +14.2pp |
| Operating income | $1.6B | 39.08% | $2.9B | 40.89% | UNP +1.8pp |
| Pre-tax income | $1.4B | 34.45% | $2.7B | 37.88% | UNP +3.4pp |
| Net income | $1.1B | 26.19% | $2.1B | 28.85% | UNP +2.7pp |
| Stage | CSX | UNP | Gap · A − B |
|---|---|---|---|
| Revenue | $4.0B100.00% | $7.2B100.00% | UNP ×1.79 |
| Gross profit | 86.48%$3.5B | 72.32%$5.2B | CSX +14.2pp |
| Operating income | 39.08%$1.6B | 40.89%$2.9B | UNP +1.8pp |
| Pre-tax income | 34.45%$1.4B | 37.88%$2.7B | UNP +3.4pp |
| Net income | 26.19%$1.1B | 28.85%$2.1B | UNP +2.7pp |