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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.
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.
Norfolk Southern CEO Alan Shaw received a 37% increase in compensation last year, ... Shaw received $13.4 million in total compensation in 2023, up from $9.8 million in 2022. His base salary rose ...
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.
In May 2023, Shaw and 12 union leaders, issued a safety letter to employees and union members committing to enhanced rail safety for employees and communities served by Norfolk Southern. [23] Under Shaw, Norfolk Southern reported 37% fewer accidents on its main lines in the first 10 months of 2023 than in the same period of 2022. Norfolk ...
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.
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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 ...