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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 has appointed John Hatfield as vice president of corporate communications and Kathleen Smith as vice president of business development and real estate. Smith succeeds Robert Martínez, who is retiring on Dec. 1. Smith has over 23 years at Norfolk Southern, while Hatfield brings 30 years of communications experience from Arizona Public Service. The appointments aim to strengthen leadership during a period of significant change, enhancing stakeholder engagement and advancing company goals.
Norfolk Southern Corporation (NYSE: NSC) reported Q3 2020 results with a net income of $569 million and diluted EPS of $2.22. Excluding a $99 million impairment charge, adjusted net income was $643 million, and diluted EPS was $2.51. The operating ratio improved to 62.5%, a 240 basis point increase from Q3 2019. Total railway operating revenues reached $2.5 billion, a decrease of 12% year-over-year, attributed to a 7% decline in volume. Management remains optimistic about achieving a 60% operating ratio with continued productivity enhancements.
Norfolk Southern Corporation (NYSE: NSC) has announced a quarterly dividend of 94 cents per share, payable on December 10 to shareholders of record on November 6. This marks the 153rd consecutive quarter of dividend payments since the company's inception in 1982. As a leading transportation company, Norfolk Southern operates approximately 19,500 route miles across 22 states and the District of Columbia, serving key industrial sectors and facilitating efficient intermodal connections.
Norfolk Southern (NYSE: NSC) and partners including GATX Corporation and Genesee & Wyoming announced the launch of Rail Pulse, a technology platform aimed at transforming rail shipping in North America. Funded by a grant from the Commonwealth of Pennsylvania and investments from partners, Rail Pulse will enhance rail safety and competitiveness by adopting GPS and telematics technology. The platform aims to provide real-time data on railcar status and condition, with a target launch for the full-service platform by the end of 2022.
Norfolk Southern Corporation (NYSE: NSC) is set to announce its third-quarter 2020 financial results during a conference call on Oct. 28, 2020, at 8:45 a.m. EDT. The earnings report will be released at 8 a.m. EDT, with a press release available on their website. Participants can join the call via teleconference or live webcast. An audio replay will be accessible until Nov. 4, 2020. Norfolk Southern operates 19,500 route miles, servicing major industrial sectors and connecting to significant ports along the eastern United States.
Norfolk Southern (NYSE: NSC) awarded the 2019 Thoroughbred Chemical Safety Award to 58 chemical customers for their exemplary safety in handling hazardous materials. These customers successfully shipped over 284,000 carloads without incidents in 2019. The award, established in 1995, highlights Norfolk Southern's commitment to safe rail-shipping practices. Amid COVID-19 challenges, the company emphasizes the importance of safety in transporting essential goods. Norfolk Southern also participates in programs to enhance safety and environmental performance in chemical transport.
Norfolk Southern's 2020 Corporate Responsibility report reveals significant environmental impacts, validating the benefits of rail transport in carbon reduction. Customers avoided nearly 15 million metric tons of carbon emissions in 2019, equivalent to 1.5 billion gallons of diesel fuel savings. Key initiatives included a $2 billion investment in rail infrastructure, community support totaling $8.7 million, and extensive training for local emergency responders. The report emphasizes Norfolk Southern's ongoing commitment to sustainability and community enhancement, aligning with broader climate goals.
Norfolk Southern (NYSE: NSC) is relaunching its public safety campaign during National Rail Safety Week, leveraging the Waze app to educate motorists on railroad crossing safety. The initiative arises from alarming statistics showing a train-vehicle accident every three minutes. Targeted areas include communities with high incident rates, where drivers will receive safety messages on their devices when near crossings. The campaign aims to reduce accidents, building on the success of previous efforts that saw a decrease in incidents in 2019.
NORFOLK, Va., Aug. 31, 2020 /PRNewswire/ -- Norfolk Southern (NYSE: NSC) has transformed a severely eroded stretch of the Elizabeth River into a green living shoreline, enhancing the local ecosystem. The project, completed in partnership with the Elizabeth River Project, aims to combat erosion while supporting business infrastructure. Covering roughly 9 acres, it features 2,300 cubic yards of sand and 24,000 plantings of marsh grass. Norfolk Southern exemplifies corporate responsibility with this voluntary initiative, positively impacting the environment and its operations.
Norfolk Southern Corporation (NYSE: NSC) will present at the Cowen 13th Annual Global Transportation Conference on Sept. 9 at 12 p.m. EDT and at the Morgan Stanley 8th Annual Laguna Conference on Sept. 17 at 9 a.m. EDT. The presentations will be led by key executives including Mark R. George and James A. Squires. Both conferences will be held virtually, with live webcasts available on the company's website under Investors. Norfolk Southern operates approximately 19,500 route miles across 22 states, making it a leader in transportation logistics.
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