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Norfolk Southern Corporation (NYSE: NSC) is a leading transportation company in the United States, with its subsidiary, Norfolk Southern Railway Company, operating approximately 19,500 route miles across 22 states and the District of Columbia. Renowned for its extensive intermodal network, Norfolk Southern serves every major container port in the eastern U.S., providing crucial connections to other rail carriers and facilitating efficient transportation of goods. The company is a major transporter of coal, automotive, and industrial products, contributing significantly to the nation's economy.
Founded in 1827, Norfolk Southern has evolved to become a customer-centric and operations-driven freight transportation network. The company prides itself on its commitment to sustainability, helping customers avoid about 15 million tons of yearly carbon emissions by opting for rail transport. Norfolk Southern manages over 20,000 miles of track, ensuring reliable movement of a diverse mix of commodities, including agriculture, metals, chemicals, and forest products.
With a focus on safety and operational efficiency, Norfolk Southern is currently implementing a balanced strategy under the leadership of President and CEO Alan Shaw. Recent efforts have led to significant improvements in network performance, safety, and service. The company aims to achieve a sub-60% operating ratio within three to four years through a Precision Scheduled Railroading (PSR) operating plan, which enhances service and sets the industry standard for safety.
Norfolk Southern’s robust network and strategic partnerships enable it to originate more automotive traffic than any other Class I Railroad and handle over seven million carloads annually. The company’s operations span major ports on the Atlantic coast, Gulf of Mexico, and Great Lakes, serving a majority of the U.S. population and manufacturing base.
In recent news, Norfolk Southern has received support from key customers and regulatory bodies, highlighting the company’s progress in safety and service improvements. The U.S. Department of Transportation and the Surface Transportation Board have praised Norfolk Southern's efforts, reinforcing confidence in the company's future direction and leadership.
Norfolk Southern Corporation (NYSE: NSC) announced a 10% increase in its quarterly dividend, raising it from $0.99 to $1.09 per share. This increase reflects the company's confidence in its improved revenue and operating ratio outlooks. The dividend is set to be paid on August 20 to shareholders on record as of August 9. Norfolk Southern has consistently paid dividends for 156 consecutive quarters, indicating a strong commitment to delivering long-term value to shareholders.
Norfolk Southern Corporation (NYSE: NSC) announced impressive second-quarter 2021 results with a net income of $819 million, and diluted earnings per share of $3.28. The company achieved record figures in operating ratio at 58.3% and income from railway operations reaching $1.2 billion, up 91% year-over-year. Railway operating revenues increased by 34% to $2.8 billion, driven by a 25% rise in volume. Operating expenses rose by 11% to $1.6 billion. CEO James A. Squires emphasized commitment to long-term value for customers and shareholders.
Norfolk Southern Corporation (NYSE:NSC) has announced an ambitious target to reduce its scope 1 and 2 greenhouse gas emissions intensity by 42% by 2034 from a 2019 baseline. This commitment has been validated by the Science Based Targets initiative, aligning with the Paris Agreement goals. In recent years, Norfolk Southern's customers have reportedly avoided 15 million metric tons of carbon emissions annually by using their rail services, which are 75% more efficient than trucking. The company plans investments in better locomotives and green technologies to reach its goals.
Norfolk Southern Corporation (NYSE: NSC) will announce its second-quarter financial results on July 28, 2021, during a conference call at 8:45 a.m. EDT. Investors can access the earnings results in advance and participate via teleconference or live webcast. An audio replay will also be available post-event. Norfolk Southern is a prominent transportation company, providing shipping solutions across 22 states and the District of Columbia, facilitating the movement of goods that support the U.S. economy.
Norfolk Southern (NYSE: NSC) has recognized 43 chemical customers with its 2020 Thoroughbred Chemical Safety Award, commending their achievement in safely handling hazardous materials. These customers shipped over 156,000 carloads without incident throughout 2020, despite the challenges posed by the global pandemic. The company continues its commitment to safety in chemical transport, participating in the American Chemistry Council's Responsible Care® Partner Program. Norfolk Southern's efforts promote safe rail-shipping practices, benefiting both businesses and communities.
Norfolk Southern (NYSE:NSC) has appointed Jason Morris as the new vice president of labor relations, effective October 1, following the retirement of Scott Weaver, who served the company for 32 years. Morris, formerly assistant vice president of safety and environmental, has been with Norfolk Southern since 2010, focusing on safety, labor, and employment issues. His leadership in safety has fostered collaboration between management and labor, enhancing safety performance. Weaver will retire after a long career, recognized for building strong relationships within the industry.
Norfolk Southern Corporation (NYSE: NSC) will participate in the UBS Global Industrials and Transportation Virtual Conference on June 8, 2021, at 3 p.m. EDT. Key executives, including Mark R. George, CFO, and Alan H. Shaw, CMO, will present during the event. Investors can access the presentation via webcast at this link. For additional details, the presentation will also be available on the Investors section of the company's website.
Norfolk Southern Corporation (NYSE: NSC) will present at the Wolfe Global Transportation & Industrials Conference 2021 on May 25 at 1 p.m. EDT. Key executives including CFO Mark R. George, CMO Alan H. Shaw, and COO Cindy M. Sanborn will participate in the virtual event. The presentation will cover the company's strategic insights and future outlook. Interested parties can access the webcast here and view the presentation on Norfolk Southern's Investor Relations page.
Norfolk Southern (NYSE:NSC) announced a $5 million contribution to the Hampton Roads community, reflecting gratitude towards its employees and retirees. Starting January 2022, the company will distribute $1 million annually for five years to local nonprofits, focusing on education, environment, social equity, and community advancement. This initiative reinforces Norfolk Southern's commitment to the region despite relocating its headquarters. The funding will be managed by a committee of employees and retirees through the Hampton Roads Community Foundation.
Norfolk Southern Corporation (NYSE: NSC) will present at the Bank of America 2021 Transportation, Airlines, and Industrials Conference on May 19, 2021, at 1:20 p.m. EDT. The presentation will be led by Executive Vice President and Chief Financial Officer Mark R. George and Executive Vice President and Chief Marketing Officer Alan H. Shaw. Interested participants can access the virtual conference via the provided webcast link. The presentation will also be available on the Norfolk Southern website in the Investors section.