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NS assisted 77 rail-served industrial projects in 2019

Rail News Home Norfolk Southern Railway 1/30/2020 Rail News: Norfolk Southern Railway
image Norfolk Southern Railway worked with 77 businesses that opened new or expanded facilities on its rail lines in 2019, the Class I announced today.NS customers across 16 states invested nearly $2 billion to develop 54 new and 23 expanded rail-served commercial projects, company officials said in a press release.The investment is expected to generate more than 62,300 carloads of new rail traffic annually for NS, they said."Industrial development activity in 2019 reflected modest, but steady, growth across our service area," said Chris Ingraham, assistant vice president of industrial development. "We saw a balanced mix of projects across our business markets, including chemicals, agriculture, metals and construction, and forest and consumer products. Going into 2020, we're encouraged as project activity remains steady and productive."Among the largest development projects last year were a fertilizer facility in Aurora, North Carolina; a butane export plant in Chesapeake, Virginia; a tissue manufacturing plant in Macon, Georgia; an asphalt facility in Chickasaw, Alabama; and an auto frame warehouse in Maumee, Ohio. NS works with customers and state and local economic development leaders to identify suitable rail-served sites and develop infrastructure that connects industrial development projects to its rail network. The Class I's industrial development department provides free and free and confidential facility-location services, including industrial park planning, site layout, track design and supply-chain analysis. Over the past 10 years, NS has participated in locating or expanding 974 industrial facilities that represent private investment of nearly $62 billion, company officials said.

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NS posts Q4 profit, revenue decline on lower volume

Norfolk Southern Corp. reported today fourth-quarter 2019 net income decreased 5 percent to $666 million, or $2.55 per diluted share, compared with net income of $702 million, or $2.57 per share, a year earlier.

The Class I's railway operating revenue declined 7 percent to $2.7 billion in the quarter, driven by a 9 percent decrease in total volume, NS officials said in a press release.

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Norfolk Southern mainline to serve Little Canoe Creek Mega-Site

Rail News Home Norfolk Southern Railway 1/22/2020 Rail News: Norfolk Southern Railway
image A Norfolk Southern Corp. donation will help fund a $2.7 million site-improvement project for the Little Canoe Creek Mega-Site in Etowah County, Alabama.The project will include grading a portion of the 1,100-acre property to create a pad-ready rail-served site large enough to accommodate a large industry, Etowah County officials said yesterday in a press release.Natural gas lines will be relocated near the end of the property, and a new railroad crossing will be added to the industrial access road off of U.S. Highway 11. The  improvements will enhance the site's marketability by reducing a company's construction timeline, said Marilyn Lott, Etowah County's economic development director.NS has designated Little Canoe Creek Mega-Site as a Norfolk Southern Prime Site after being reviewed for rail access and certified by the Economic Development Partnership of Alabama, said Chris Ingraham, assistant vice president of industrial development at NS.“Norfolk Southern is pleased to partner with Etowah County and the state of Alabama to develop a rail-served industrial site that will generate mutual benefits for all parties involved, including increased opportunity for new jobs and private investment across the region,” he said in the press release.The project will be funded through the state's Growing Alabama Credit program and the NS donation.

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Norfolk Southern's Q3 revenue, income fall on lower volume

Rail News Home Norfolk Southern Railway 10/23/2019 Rail News: Norfolk Southern Railway
image Norfolk Southern Corp. reported third-quarter 2019 operating revenue fell nearly 4 percent to $2.8 billion, as a 2 percent increase in average revenue per unit was partially offset by a 6 percent decline in total volume, the Class I announced today.Net income in the quarter dropped to $657 million, or $2.49 per share, compared with $702 million, or $2.52 per share, for the same period last year.Operating expenses for the quarter also were down to $1.8 billion compared with $1.9 billion a year ago. Third-quarter rail operating income fell to $996 million from $1 billion last year.The Class I logged an operating ratio of 64.9 percent — a third-quarter record —despite the impact of a write-off related to a legal dispute.NS achieved its record Q3 operating ratio while rolling out the first phase of its new TOP21 operating plan, followed by the "swift transition to the plan's second phase," said NS Chairman, President and Chief Executive Officer James Squires in a press release."These efforts produced an 11 percent reduction in crew starts and recrews compared to the third-quarter last year, robustly outpacing the 6 percent volume decline while maintaining resilient service that supported an 11th consecutive quarter of year-over-year revenue per unit growth,” said Squires.Initiatives focused on more efficient mechanical operations and the locomotive and rail-car fleet also progressed during the quarter."Looking ahead, additional productivity will be generated as we advance to the third phase of TOP21 and execute initiatives surrounding fuel efficiency, distributed power, intermodal operations, and our mechanical network," Squires said.

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Norfolk Southern reports environmental, economic growth

Rail News Home Norfolk Southern Railway 10/17/2019 Rail News: Norfolk Southern Railway
image Norfolk Southern achieved an all-time best operations ratio of 65 percent in 2018.Photo – Norfolk Southern Railway

During 2018, Norfolk Southern Corp. decreased its greenhouse gas emissions by 2.6 percent year over year and achieved an all-time best operating ratio of 65 percent, according to the Class I's 12th annual Corporate Social Responsibility report.

Released yesterday, the report details NS' environmental, economic and social impacts during 2018 and early 2019.

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