Railroad News

NS, Ludlow museum sign lease agreement for historic yard shop

Rail News Home Norfolk Southern Railway 1/10/2022 Rail News: Norfolk Southern Railway
image The structure that will be restored is historically significant because it’s the last remaining original structure in Ludlow used by the Cincinnati, New Orleans and Texas Pacific Railway, which became part of Southern Railway and later Norfolk Southern. Photo – ludlowstorehouse.godaddysites.com

Norfolk Southern Railway and the Ludlow Heritage Museum have signed a property lease agreement to preserve the NS-owned Ludlow Yard Store House building in Kentucky.

The agreement allows museum officials to renovate the building and repurpose it into its new headquarters. The building is historically significant because it’s the last remaining original structure in Ludlow used by the Cincinnati, New Orleans and Texas Pacific Railway, which became part of Southern Railway and later Norfolk Southern.

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NS launches industrial site search engine

Rail News Home Norfolk Southern Railway 12/17/2021 Rail News: Norfolk Southern Railway
image Norfolk Southern Railway has launched NSites, a GIS-based search engine to help businesses find rail-served industrial sites and transload facilities. The online portal provides comprehensive information about industrial sites near NS's transportation infrastructure, encouraging investment and job creation, NS officials said in a press release. The Class I’s network connects customers to every major container port in the eastern United States and reaches a majority of the country’s population and manufacturing base, they added. The search tool includes more than 800 available industrial locations across the railroad’s 22-state territory, all verified as rail accessible by NS or one of its short-line partners. Additionally, users can find nearly 250 rail-to-truck transload facilities in key markets across the eastern United States. Similar to online residential real-estate sites that let users search for homes based on their criteria, NSites enables a customized search of properties. By using targeted filters, companies can sift through results based on acreage, location, existing warehousing, and proximity to highways, intermodal terminals and port facilities. "We developed NSites with the user in mind, to empower current and future customers during site selection decisions," said Ed Elkins, executive vice president and chief marketing officer. "Before NSites, there was no single destination to help large manufacturers, site-selection professionals and developers identify and compare rail-served industrial sites that offer the exact site characteristics they need."

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Norfolk Southern's Squires to retire in 2022; Shaw named successor

Norfolk Southern Corp. today announced that Chairman and CEO James Squires plans to retire May 1, 2022, at which time Executive Vice President and Chief Marketing Officer Alan Shaw will become CEO.

As part of the company's planned succession process, the board of directors has elected Shaw to the role of president, effective immediately. The company's executive leadership team now reports to Shaw, NS officials said in a press release.

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Norfolk Southern opens new HQ in Atlanta

Rail News Home Norfolk Southern Railway 11/11/2021 Rail News: Norfolk Southern Railway
image Guests attending a ribbon-cutting ceremony included Georgia Gov. Brian Kemp, U.S. Sen. Raphael Warnock (D-Ga.), Atlanta Mayor Keisha Lance Bottoms, NS CEO James Squires (shown holding scissors) and Atlanta civic and business leaders. Photo – Norfolk Southern's Facebook page

Norfolk Southern Corp. yesterday formally opened its new headquarters in Midtown Atlanta.

Guests who attended a ribbon-cutting ceremony included Georgia Gov. Brian Kemp, U.S. Sen. Raphael Warnock (D-Ga.), Atlanta Mayor Keisha Lance Bottoms and civic and business leaders from across the city, NS officials said in a press release.

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NS posts Q3 records for income, earnings, operating ratio

Rail News Home Norfolk Southern Railway 10/27/2021 Rail News: Norfolk Southern Railway
image Norfolk Southern Corp. today reported third-quarter 2021 financial results, which included Q3 records for net income, diluted earnings per share, income from railway operations and operating ratio. Third-quarter net income was $753 million, diluted earnings per share was $3.06, income from railway operations was $1.1 billion and the operating ratio was 60.2%. Railway operating revenue increased 14% to $2.85 billion compared with Q3 2020. Railway operating expenses during the quarter rose 3% to $1.7 billion. Last year’s results included a $99 million impairment charge related to an equity method investment. Excluding the impairment charge, operating expenses were up 10% compared with adjusted operating expenses in Q3 2020, driven by higher fuel, purchased services and compensation and benefits expenses. The $1.1 billion in railway operations income was a 35% increase on a year-over-year basis. Excluding the effect of the impairment charge in Q3 2020, income from railway operations was up 21%. The operating ratio of 60.2% was an improvement of 630 basis points over Q3 2020. Excluding the effect of last year’s impairment charge, the operating ratio improved 230 basis points over the adjusted results for Q3 2020. "Our team delivered a strong financial performance in the quarter, producing a number of third-quarter records," said NS Chairman, President and CEO James Squires in a press release. "The actions taken by our employees show our commitment to find sustainable solutions for our customers and shareholders in the face of significant supply chain disruptions."

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