Norfolk Southern Corp. - NSC STOCK NEWS

Norfolk Southern Corporation (NYSE: NSC) announced updates on environmental monitoring and community support following the incident in East Palestine, Ohio. Key actions taken include:

• Conducted nearly 500 in-home air tests with no health risks detected.
• Removed 3,150 cubic yards of contaminated soil and 942,000 gallons of hazardous liquid.
• Distributed over $1.7 million in assistance to more than 1,100 families and businesses.
• Established a $1 million fund for community support.
• Reimbursed $220,000 to replace vital firefighting equipment.

Norfolk Southern remains committed to ensuring the safety and recovery of East Palestine residents.

On February 16, 2023, Norfolk Southern Corporation (NYSE: NSC) President and CEO Alan H. Shaw addressed the East Palestine community, emphasizing the company's commitment to recovery following a train derailment. Shaw acknowledged the community's concerns about safety regarding air, water, and land. To assist, Norfolk Southern has initiated a thorough site cleanup, established a Family Assistance Center, and launched a comprehensive testing program in collaboration with local health officials. Additionally, a $1 million community support fund has been set up to aid rebuilding efforts. Shaw reaffirmed Norfolk Southern's ongoing presence and support in East Palestine.

Norfolk Southern (NYSE: NSC) has updated its community assistance initiatives for East Palestine, Ohio, as of February 14, 2023. The company has conducted over 400 in-home air tests in collaboration with the EPA, reporting no health risks from the incident. They have also established a $1 million fund for community support and distributed $1.5 million in financial aid to over 1,000 families. Furthermore, the geographic area eligible for reimbursements has been expanded to include all residents within the 44413 zip code. The comprehensive air and drinking water monitoring efforts indicate safe conditions for the community.

On February 14, 2023, Norfolk Southern Corporation (NYSE: NSC) announced a $1 million charitable fund to support the community of East Palestine, Ohio. This initiative is part of the company's commitment to assist those affected by a recent derailment. Alongside this fund, Norfolk Southern has already distributed over $1.2 million in financial aid to nearly 900 families and businesses for evacuation-related expenses. Additional contributions include $220,000 to the local fire department, air purifiers for residents, and comprehensive air monitoring services in schools, demonstrating the company's ongoing response to community needs.

Norfolk Southern Corporation (NYSE: NSC) has provided an update on its support for the East Palestine community following the recent derailment. The company has allocated over $1 million in assistance to more than 700 families for evacuation-related costs, and has engaged with over 30 local businesses for support. Community efforts include a $220,000 donation to the East Palestine Fire Department and the provision of air purifiers for residents. Environmental monitoring is ongoing, with over 340 in-home air tests completed and no health risks detected. Norfolk Southern continues to collaborate with local and federal agencies for the community's recovery.

Norfolk Southern Corporation (NYSE: NSC) reported a successful collaboration with 120 companies, resulting in 159 industrial projects in 2022. This initiative led to an investment of $3.2 billion and the creation of 3,940 jobs across its rail network. The company emphasizes its extensive resources, including 825 development-ready sites and partnerships aimed at supporting business growth. Key trends such as electric vehicle production and e-commerce growth are expected to propel future expansion. Norfolk Southern's pipeline signifies confidence among customers, with $30 billion in projected investments for new facilities and expansions planned for 2023.

Norfolk Southern Corporation (NYSE: NSC) reported record railway operating revenue and income from railway operations for Q4 and full-year 2022. Q4 revenue reached $3.2 billion, up 13%, while operating income rose to $1.2 billion, a 5% increase. For the entire year, total revenues hit $12.7 billion, climbing 14%, and operating income reached $4.8 billion, up 8%. Diluted earnings per share also saw a 15% increase to $13.88. Despite revenue growth, operating expenses increased due to higher fuel costs and compensation.

Norfolk Southern Corporation (NYSE: NSC) announced a 9% increase in its quarterly dividend, raising it from $1.24 to $1.35 per share. The new dividend is payable on February 21, 2023, to shareholders who are on record as of February 3, 2023. This announcement marks 162 consecutive quarters of dividend payments since the company's formation in 1982, reflecting a strong commitment to returning value to shareholders. Norfolk Southern continues to play a vital role in the U.S. economy by moving goods efficiently and sustainably, significantly reducing carbon emissions.

Norfolk Southern Corporation (NYSE: NSC) will announce its fourth quarter financial results on January 25, 2023, at 8:45 a.m. ET. The earnings conference call will be accessible via teleconference and a live webcast on their website. An audio replay will be available after the call until February 1, 2023. The company, which plays a critical role in U.S. freight transportation, emphasizes its commitment to sustainability by helping customers avoid significant carbon emissions. For more information, visit the Norfolk Southern Newsroom.