“We have sustained strong financial performance through challenging business conditions over the past five years, with consistent improvements in operating income, earnings per share and operating ratio,” Eliasson told analysts at a recent Deutsche Bank conference.

Coal, though, remains a problem for the railroad.

Its coal business once again suffered declines.

Eliasson said it was in the second year of a two-year transition period.

Growth in its intermodal and merchandise businesses helped take up the slack.

Eliasson reiterated CSX’s guidance in deploying cash for shareholders, including a shareholder dividend increase, a billion-dollar share repurchase program over 24 months and capital investment of $2.3 billion this year.