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CEO Steve Angel, without promising a merger, said he would consider any opportunities that make sense for shareholders. He vowed to focus on making CSX the best-performing railroad.

CSX named Steve Angel as its new CEO as the railroad faces pressure from an activist investor and rising competitive challenges.

CSX is working with Goldman Sachs Group, people familiar with the matter said, as the company explores options to participate in rail consolidation after two major rivals announced a merger.

At a time when the industry is bracing for further consolidation, Ancora believes that CSX under CEO Joseph Hinrichs has been “underperforming.”

Workers have achieved the 47% completion mark to lower the historic Howard Street Tunnel by 2 feet to allow double-stacked rail containers to travel to and from the Port of Baltimore.

CSX railroad’s profit fell 27% in the first quarter as two major construction projects contributed to a decline in shipments.

The Florida-based railroad is recovering from hurricanes Helene and Milton that battered its network in the Southeast. Some trains had to be rerouted as tracks are cleared and repaired.

CSX railroad’s second-quarter profit slipped 2% as it scrambled to respond to the Baltimore bridge collapse in March that disrupted coal exports.

CUMBERLAND, Md. — Infrastructure improvements at CSX’s Cumberland yard will increase capacity and allow railcars that previously couldn’t move through the yard to do so, the company said.

CSX’s first-quarter profit slipped 10% even though the railroad delivered 3% more goods, as the mix of shipments it handled shifted toward less profitable items.