Railroad News

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.

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.

Norfolk Southern Corp. announced yesterday that Executive Vice President and Chief Financial Officer Cynthia Earhart will retire on Nov. 1. She will be succeeded by Mark George.

Earhart joined NS in 1985 in the accounting department, where she held positions of increasing responsibility, including assistant VP, before transitioning to information technology.

Norfolk Southern Corp.'s board yesterday approved new responsibilities for Michael Farrell and Vanessa Allen Sutherland effective tomorrow.

As senior vice president of operations and mechanical, Farrell will assume responsibility for the railroad's transportation and mechanical functions.

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Norfolk Southern Corp. today reported second-quarter 2019 net income rose 2 percent year-over-year to $722 million as the result of a 4 percent increase in railway operations income.

NS posted diluted earnings per share of $2.70, up 8 percent over the same period a year ago and a second-quarter record, the company announced in a press release.

Norfolk Southern Railway yesterday announced the transition to its new TOP21 operating plan earlier this month went smoothly.

The phase one roll out in July's first week in the merchandise network resulted in a seamless changeover with minimal impacts to customer service and network operations, NS officials said in a press release. The first phase focuses on the carload and automotive networks.

Today, Norfolk Southern Railway will begin rolling out its new precision scheduled railroad operating plan known as TOP21, the Class I announced yesterday in a customer service alert.

The new plan is designed to improve service performance for customers and provide network efficiencies, NS officials said in the alert.

Norfolk Southern Corp. is preparing to roll out the Class I’s new precision scheduled railroad operating plan known as TOP21.

The initiative is a key component of NS's new three-year strategic plan to "Reimagine Possible" in all aspects of its business operations. In April, the company announced that the first phase of TOP21 will focus on the general merchandise market.

Norfolk Southern Railway has recognized 58 of its chemical shipper customers with the Class I's 2018 Thoroughbred Chemical Safety Award.

The award is part of an NS initiative to promote safe rail-shipping practices in communities the railroad services, according to an NS press release.

Norfolk Southern Railway in 2019 is "reimagining possible" in all aspects of its business to improve customer service, increase efficiency, drive growth and create shareholder value, President and Chief Executive Officer James Squires Squires said today at the company's annual shareholders meeting.

"We are moving full speed ahead with a new plan for the future that provides a clear path to continued success — success that benefits our customers, our employees, and our shareholders,” said Squires in a press release.

Norfolk Southern Railway and the Wyoming County Industrial Development Agency (IDA) recently marked the opening of a new multimodal transfer facility in Gainesville, New York.

The Wyoming Transfer Station will serve companies interested in shipping by rail. It represents the final stage of Wyoming County's rail initiative, which began in 2008 and represents a nearly $1 million investment from the New York State Department of Transportation's (NYSDOT) multimodal program, the Wyoming County IDA, Wyoming County and private site work provided by Marquart Cos., according to an IDA press release.

Norfolk Southern Corp. today reported first-quarter 2019 net income rose 23 percent year over year to $677 million, as a result of a 16 percent increase in income from railway operations and a boost in other income.

Diluted earnings per share jumped 30 percent to $2.51 compared with Q1 2018. The Class I logged operating revenue of $2.8 billion, a first-quarter record and a 5 percent year over year increase. NS attributed the revenue growth to a rise in revenue per unit, resulting from higher rates and fuel surcharges.

Norfolk Southern Railway is continuing to address service interruptions due to flooding conditions in Hannibal, Missouri, the Class I announced yesterday.

The situation is requiring NS traffic between Decatur, Illinois, and Kansas City, Missouri, to be diverted and operated via St. Louis, NS officials said in an operations alert to customers. Conditions along the route are expected to improve by April 14.

Norfolk Southern Corp. posted strong growth and best-ever operating results for operating ratio and income from railway operations last week, the Class I reported late last week in releasing its 2018 annual report online.

For the year, the company achieved an all-time-best operating ratio of 65.4 percent, the third consecutive year of improvement; grew total railway operating revenue 9 percent year-over-year to $11.5 billion; and increased income from railway operations 12 percent to $4 billion, a record.