Railroad News

NS sets revenue, earnings and income records in Q3

Rail News Home Norfolk Southern Railway 10/26/2022 Rail News: Norfolk Southern Railway
image The Class I reported Q3 net income soared 27% to $958 million compared with the same period a year ago. Photo – nscorp.com

Norfolk Southern Railway today announced its third-quarter financial results include new records for operating revenue, operating income, net income and diluted earnings per share. 

The Class I reported Q3 net income soared 27% to $958 million, or $4.10 diluted earnings per share, from $753 million, or $3.06 per diluted EPS, in the same period a year ago. Railway operating revenue of $3.3 billion reached an all-time quarterly record and climbed 17%.

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NS combines transportation, network operations; promotes Duncan

Norfolk Southern Railway has created a combined transportation and network operations organization and promoted Paul Duncan to lead the group as senior vice president.

Duncan will lead the team responsible for designing network operations, executing network plans and coordinating the movement of trains across the NS rail network, company officials said in a press release.

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Norfolk Southern donates funds to food pantries

Rail News Home Norfolk Southern Railway 9/29/2022 Rail News: Norfolk Southern Railway
image More than 34 million Americans — including 9 million children — are food insecure. Photo – Norfolk Southern Railway

Norfolk Southern Corp. yesterday announced a commitment of $400,000 in grants to 31 food banks located along its national network in an effort to combat food insecurity.

More than 34 million Americans — including 9 million children — are food insecure, meaning they have limited or uncertain access to adequate food, according to the U.S. Department of Agriculture.

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NS honors 48 chemical shippers with annual safety award

Rail News Home Norfolk Southern Railway 9/23/2022 Rail News: Norfolk Southern Railway
image The Class I chose 43 chemical manufacturers and five chemical plants as 2021 award winners. Photo – Norfolk Southern Railway

Norfolk Southern Corp. is presenting its 2021 Thoroughbred Chemical Safety Award to 48 shippers to recognize their efforts in safely handling the movement of hazardous materials.

The 43 chemical manufacturers and five chemical plants chosen as winners safely transported or originated 100% of their shipments over the railroad’s network without a single incident last year, NS officials said in a press release. The winners are listed here.

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Norfolk Southern unveils latest ESG report

Rail News Home Norfolk Southern Railway 8/11/2022 Rail News: Norfolk Southern Railway
image "Norfolk Southern is a customer-centric, operations-driven company, which means helping our customers achieve their supply-chain emissions goals and reducing our own carbon footprint," said President and CEO Alan Shaw. Photo – nscorp.com

Norfolk Southern Railway yesterday released its 15th annual environmental, social and governance (ESG) report, which highlights the company's efforts to reduce its environmental impact, create a culture of inclusion, invest in its people, strengthen governance practices and help customers achieve their sustainability goals.

"Norfolk Southern is a customer-centric, operations-driven company, which means helping our customers achieve their supply-chain emissions goals and reducing our own carbon footprint," said President and CEO Alan Shaw in a press release.

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Norfolk Southern awards scholarships to railroaders' children

Rail News Home Norfolk Southern Railway 7/29/2022 Rail News: Norfolk Southern Railway
image The program will provide $2,500 per year, renewable for up to four years, for full-time students. Photo – NS

Norfolk Southern Railway yesterday announced the awardees of the Thoroughbred Scholars program, which provides scholarships of up to $10,000 to 100 children of NS employees.

The program will provide $2,500 per year, renewable for up to four years, to full-time students pursuing an undergraduate degree at an accredited two- or four-year institution. The program received more than 500 applications, NS officials said in a press release.

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NS logs record operating revenue, income in Q2

Rail News Home Norfolk Southern Railway 7/27/2022 Rail News: Norfolk Southern Railway
image Norfolk Southern Corp. today reported second-quarter 2022 railway operating revenue of $3.3 billion, up 16%, and income from railway operations of $1.3 billion, up 9% compared with Q2 2021 results. The Q2 2022 railway operating revenue reached an all-time quarterly high, with the year-over-year increase driven by a 20% hike in revenue per unit. Railway operating income also set a record. NS posted Q2 2022 net income of $819 million, about the same as a year ago, and diluted earnings per share of $3.45, a 5% increase. Railway operating expenses totaled $2 billion, a 21% increase compared with the same period last year due to higher fuel prices, lower property sales and increased costs from inflation and service challenges, NS officials said in a press release. The Class I posted a Q2 2022 operating ratio of 60.9% compared to 58.3% a year ago. "The Norfolk Southern team was able to deliver solid financial performance in the second quarter, despite network fluidity challenges,” said President and CEO Alan Shaw. “We remain steadfast in our commitment to service recovery." In the quarter, NS made "considerable progress" on staffing and launched its TOP|SPG (thoroughbred operating plan | service, productivity and growth) operating model, both of which are key to achieving the company's targeted service levels and long-term growth strategy, Shaw said. "Already, we are seeing visible upticks in qualified employees and train speeds as a result of these initiatives, and we expect to see further progress on service recovery in the months ahead," he said.

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Norfolk Southern bumps up conductor trainee pay, incentives

Rail News Home Norfolk Southern Railway 7/22/2022 Rail News: Norfolk Southern Railway
image Conductor trainees at priority locations on the NS network can earn up to $5,000 in starting bonuses. Photo – nscorp.com

Norfolk Southern Railway is increasing conductor trainee pay to $25 per hour, with a minimum of $200 in earnings per shift, the Class I announced yesterday.

Additionally, conductor trainees are eligible for an on-the-job training incentive of $300 per bi-weekly pay period, provided they make themselves available to work, NS officials said in a press release.

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NS kicks off new operating plan

Rail News Home Norfolk Southern Railway 6/27/2022 Rail News: Norfolk Southern Railway
image "Our robust hiring efforts, coupled with TOP|SPG, will enhance our overall service recovery," said NS President and CEO Alan Shaw. Photo – nscorp.com

Norfolk Southern Railway today announced the official launch of TOP|SPG, the Class I's latest operating plan designed to improve service, enhance productivity and create a platform for growth.

The plan builds on previous Thoroughbred Operating Plans (TOP) with goals for service, productivity and growth (SPG), NS officials said in a press release.

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NS to serve Middle Georgia Megasite

Rail News Home Norfolk Southern Railway 6/20/2022 Rail News: Norfolk Southern Railway
image The megasite sits on 1,100 acres. NS will provide rail service. Photo – Peach County Development Authority

Norfolk Southern Railway will provide rail service to the Middle Georgia Megasite, which the state and Peach County Development Authority purchased through a partnership.

The 1,100-acre site is located adjacent to Georgia Highway 96, with access to Interstate 75. Rail service will be provided by NS on the north side, plus an additional rail line on the west side. Both the ports of Savannah and Brunswick can be reached via rail in less than five hours, authority officials said in a press release.

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Norfolk Southern rings NYSE bell to mark 40th anniversary

Rail News Home Norfolk Southern Railway 6/8/2022 Rail News: Norfolk Southern Railway
image Joining NS President and CEO Alan Shaw (center) and the NS senior executive team on the NYSE bell podium were six craft railroaders from the company’s operating division. Photo – New York Stock Exchange

Norfolk Southern Corp. officials yesterday rang the opening bell at the New York Stock Exchange to mark 40 years since the merger of Norfolk and Western Railway and Southern Railway created Norfolk Southern Railway on June 1, 1982.

Joining NS President and CEO Alan Shaw and the NS senior executive team on the NYSE bell podium were six craft railroaders from the company’s operating division.

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Shaw emphasizes customer service at NS shareholders meeting

Norfolk Southern Railway will deliver long-term value to shareholders by becoming more customer-centric and operations-driven, President and CEO Alan Shaw said at the company's annual meeting held last week.

“My first priority, and the top priority of every member of the Norfolk Southern team, is to restore service to the quality our customers expect and deserve,” said Shaw in a press release.

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NS report highlights projects funded by green bonds

Rail News Home Norfolk Southern Railway 5/12/2022 Rail News: Norfolk Southern Railway
image NS was the first Class I to issue green bonds. Photo – nscorp.com

Norfolk Southern Corp. yesterday reported on projects funded by $500 million in green bonds the company issued in 2021.

NS was the first Class I to issue green bonds. The company allocated $496 million in net proceeds from its green bonds to fund eligible projects as defined under the NS Green Financing Framework.

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Shaw kicks off first days as Norfolk Southern's top executive

Rail News Home Norfolk Southern Railway 5/2/2022 Rail News: Norfolk Southern Railway
image Alan Shaw Photo – nscorp.com

Alan Shaw yesterday began his first day as Norfolk Southern Railway’s new president and CEO.

Today, Shaw sent to NS employees an open letter that outlines the Class I’s priorities under his leadership, starting with restoring service to meet customers' expected level of service quality. The railroad is "taking the right steps" toward that goal by accelerating its new TOP|SPG operating plan and hiring the conductors the railroad needs to execute the plan reliably, he wrote.

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New NS headquarters awarded LEED Gold certification

Rail News Home Norfolk Southern Railway 4/29/2022 Rail News: Norfolk Southern Railway
image The 750,000-square-foot headquarters opened in November 2021. Photo – nscorp.com

Norfolk Southern Railway announced its new corporate headquarters in Atlanta has achieved Leadership in Energy and Environmental Design (LEED) Gold certification from the U.S. Green Building Council.

The certification is considered the most widely-used green building rating system in the world. Gold certification was obtained for the building’s design and construction, including sustainable site development, water conservation, energy efficiency, materials selection and indoor environmental quality, NS officials said in a press release.

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NS to permanently protect wetlands in South Carolina

Rail News Home Norfolk Southern Railway 4/27/2022 Rail News: Norfolk Southern Railway
image This is the third easement donated to Lowcountry Land Trust, which protects more than 150,000 acres of ecologically significant land. Photo – NS

Norfolk Southern Railway yesterday announced plans to permanently protect 1,105 acres of wetlands along South Carolina’s coastal plain through a conservation easement.

The "ecologically significant land" is home to the Coldwater Branch Stream and Wetland Mitigation Bank at Brosnan Forest, NS' 14,400-acre timber and wildlife preserve northwest of Charleston, NS officials said in a press release.

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NS expands conductor trainee incentive program

Rail News Home Norfolk Southern Railway 4/18/2022 Rail News: Norfolk Southern Railway
image NS conductors are guaranteed minimum annual pay of $52,000 with benefits. Photo – nscorp.com

Norfolk Southern Railway is expanding its conductor trainee incentive program to Bellevue, Ohio; Elkhart, Indiana; and Fort Wayne, Indiana.

The program includes starting bonuses of $5,000.

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NS, Commtrex to expand customer access to transload facilities

Rail News Home Norfolk Southern Railway 4/7/2022 Rail News: Norfolk Southern Railway
image Commtrex will offer a comprehensive database of NS' transload facilities for shipping customers to search. Photo – nscorp.com

Norfolk Southern Railway yesterday announced a partnership with Commtrex to increase access to and visibility of transload facilities on the Class I’s network.

Shippers using the network will be able to use Commtrex’s database to search among the 32 rail-served transload facilities by location, commodities handled and other parameters, NS officials said in a press release. That will help shippers connect to every major container port in the eastern United States, they added.

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NS donates rail history archives to Virginia museum

Rail News Home Norfolk Southern Railway 4/6/2022 Rail News: Norfolk Southern Railway
image Norfolk Southern Corp. will also donate $750,000 to support the Norfolk and Western collection in perpetuity. Photo – nscorp.com

Norfolk Southern Corp. has donated the complete collection of historical documents and archives from predecessor company Norfolk and Western Railway to the Virginia Museum of History & Culture, the company announced today.

The collection dates back to the 1840s and includes thousands of photographs and glass plate negatives, as well as business records, annual reports, blueprints, plans, bridge drawings, advertisements, portraits and three-dimensional artifacts from predecessor railroads that together provide a look into the growth of rail transportation across the eastern United States.

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NS garners two awards for sustainability achievements

Rail News Home Norfolk Southern Railway 4/1/2022 Rail News: Norfolk Southern Railway
image The Class I earned the ACC's award in part for using alternative fuels and employing locomotive energy management systems Photo – Norfolk Southern Railway

Norfolk Southern Railway recently received the Responsible Care Energy Efficiency Award for Locomotive Fuel Efficiency from the American Chemistry Council (ACC) and the 2022 Green Bond of the Year Award from Environmental Finance for a number of sustainability achievements.

The ACC award recognizes member companies for initiatives that improve energy usage. The council honored NS’ locomotive fuel efficiency program with an exceptional merit designation.

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