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Norfolk reported a profit of $3.04 per share for the reported quarter, above analysts' estimates of $2.95 per share, according to data compiled by LSEG. Total revenue fell 2% to $3 billion.
Norfolk Southern CEO Alan Shaw received a 37% increase in ... and his promotion to that role in late 2021 had already resulted in his compensation more than doubling in 2022 compared to 2021.
Norfolk Southern's fourth-quarter profit fell 33% because of the ever growing costs of the cleanup of last year's fiery derailment in eastern Ohio.
Norfolk Southern's predecessor railroads date to the early 19th century. The South Carolina Canal & Rail Road was the SOU's earliest predecessor line. Chartered in 1827, the South Carolina Canal & Rail Road Company became the first to offer regularly scheduled passenger train service with the inaugural run of the Best Friend of Charleston in 1830. [18]
Norfolk Southern will pay: $235 million for clean-up results, with no burden on taxpayers, $15 million (the highest legal amount) for a violation of the Clean Water Act, $25 million for a 20-year community health program for East Palestine residents, $15 million for a 10-year monitoring of surface and ground water, and $15 million for 10 years ...
Over the next two years, Norfolk Southern predicts will improve productivity by about $550 million and boost its profit margin. The railroad’s revenue grew 2% to $3.04 billion in the quarter, in line with Wall Street’s forecast. Norfolk Southern is one of the nation’s largest railroads operating trains across the eastern United States.
James A. Squires is an American railroad executive who was the president, chief executive officer, and executive chairman of Norfolk Southern Railway until his retirement on May 1, 2022; Squires had left the presidency on December 1, 2021.
Norfolk Southern said the East Palestine derailment is now expected to cost nearly $2.2 billion total with about half of that related to legal costs and settlements like the $600 million class ...