you, Thank everyone. Jim, good afternoon, and
walk to Turning XX, highlights of through the Slide I’ll summary the statement. you income
driven X% fuel gains, was revenue other recoveries. quarter, pricing revenue traffic total the mentioned, increased strong favorable Jim up by in mix, higher and As first
operating X%, X% on year. lower last and Total Labor the similar volume in employee expenses was lower average quarter. expenses. as to X% first was to Moving expense headcount fringe were down
active higher-performance crew operated balancing starts our trip reduced expense. savings road costs, led Continued ancillary in to trains ongoing crew significantly and and as such year-over-year velocity leading refinement to compliance the and operating plan arrivals. crew improvements in levels of focus plan at fewer on on-time CSX
active over per XXXX. XXX combined time, down train The was storage. ton-miles online to and crew locomotive decrease over an of end nonproductive and Shifting helped X% since favorable The a engine smaller the X% indicators employee These in re-crews active improved fluidity count side, fewer results road an and utilization decline now base by and crew addition, year-over-year. workforce. craft and year-over-year and locomotives X% In significantly cars our improvement locomotive network mechanical drive measured with drove enabled employee. engine mechanical operating down year-over-year train as the repair gross units in in year-over-year currently X,XXX active are car efficiencies, fleet, active of over total freight count is locomotive the XX% the in
in in and assets consultants, which in the labor quarter achieved contractors Regarding includes Improved workforce, drive our end first operation, XXX we to versus network more streamlining total support of functions, continued with together the as service, productivity. XXXX and as fewer of well employees, management union reductions resources fluid nearly benchmark. and our a opportunistic
on our attrition on to goal. absorb this fourth discussed and normal quarter indicate expect call, our As to we we that quarter are levels results year meet track of first
MS&O During additional recognized not also forward. recoveries expense, do rationalizations quarter, and from going versus We year, expect announced tax trucking including improved the costs. resulting the retirement refunds railroad terminal, handling previously other related we years. volumes reduced prior lower drove any prior X% relocation to from expense lane reimbursements intermodal freight
count, costs prior sale the materials services. in the and lower savings attributed Real We in in the also gains versus to continue accident line were to see our lower estate quarter. driving favorable first quarter Train and $X contracted year. active were efficiencies million locomotive
and opportunities, strong real good sales the estate are sale pipeline and to uneven see making estate from a impact sales real We million target against transactions that $XXX these line of of progress cumulative our will continue though quarter-to-quarter remain three-year year-to-year.
was gallon Looking increased expense the net X% further X% down per aided other X% impact primarily asset larger driven and base. of price Fuel at expense a by by a in items, the depreciation efficiency. the due to year-over-year, decrease
on efficiency. drove record Our enhanced train utilization quarter fuel power of software, and with energy focus combined rules handling first distributed compliance a management
decreased quarter $X car approximately earnings year’s federal merchandise utilized million item be the expect a state quarter, intermodal. this and cycle quarter, rents Equity of X%, gallons per tax line to driven X.X decreased this our We gross first by million ton-miles. in to we times in automotive, Specifically, fewer expense primarily $XX due similar and at items. to level Equipment million unique would move absent improved affiliates. true-ups in
Looking tax divesting respectively, rate. CSX would points P&L, by of state his average representing partially reflecting XX.X% the of increased, items, for out year-over-year. option the share quarter settling expect earnings an XX.X% the income record XX%, opening highlighted operating of of basis ratio in XX.X%, stock approximately delivered remaining was expense effective balances, operating Absent higher and weighted rate improvements offset well debt awards, first equity of $X.XX, $X.X of XXX effective quarter the Closing tax lower tax of remarks, as quarters. XX%, per to coupon to other exercises three Jim and billion, and the unique interest in below related primarily line, rate as benefits The matters. due a as we
year-over-year. cash Capital the the Slide on investment relatively of side to flat Turning equation XX. was
billion announced year’s during The our and cash invest in without XX% part investment program cash in to to We authorization Overall, of infrastructure new of XXX% in we in levels income in sustain than converted purchasing continue million buybacks in prior the operations. increase net to cash free approximately completed Similar company $XXX $X shares years. core or a adjusted stock, flow share the approximately reliable also buyback and us $X significantly safety lower and asset first quarter. of has rolling we Growth especially flow million shareholders, level our to quarter, last including liability. $XXX the in drove capital In began intensity, last to the free enabled the The down in compromising returned reduced quarter, train more we first at has spending PTC provide as track two quarter. to generation billion CSX’s January. in come the operating dividends. core safe
activity the of per reflect Our Dividend from it an a roughly netted increase share. to the back $X.XX $X.XX payments share per to repurchase turn we count. that, remarks. of announced me this in February X% in year in let share lower closing his Jim a $XX share buyback price average of quarter With net for quarter
