Railroad News

1/25/2017    

Rail News: Norfolk Southern Railway

Rail News Home Norfolk Southern Railway 1/25/2017 Rail News: Norfolk Southern Railway
NS today announced fourth-quarter, full-year results for 2016.Photo – nscorp.com

1/25/2017    

Rail News: Norfolk Southern Railway

Rail News Home Norfolk Southern Railway 12/1/2016 Rail News: Norfolk Southern Railway
Four Marines at Camp Lejeune, N.C., salute the flag on the NS 6920 train, whose design honors veterans.Photo – NS

12/1/2016    

Rail News: Norfolk Southern Railway

Rail News Home Norfolk Southern Railway 11/29/2016 Rail News: Norfolk Southern Railway
The NS board yesterday announced two new directors.Photo – Norfolk Southern Corp.

11/29/2016    

Rail News: Norfolk Southern Railway

Rail News Home Norfolk Southern Railway 11/21/2016 Rail News: Norfolk Southern Railway
Norfolk Southern's Safety TrainPhoto – Norfolk Southern Corp.

11/21/2016    

Rail News: Norfolk Southern Railway

Rail News Home Norfolk Southern Railway 10/31/2016 Rail News: Norfolk Southern Railway
Norfolk Southern's Safety Train serves as a mobile technical training center.Photo – Norfolk Southern Corp.

10/31/2016    

Rail News: Norfolk Southern Railway

Rail News Home Norfolk Southern Railway 10/26/2016 Rail News: Norfolk Southern Railway
Norfolk Southern Corp. reported third-quarter net income of $460 million, up 2 percent, and diluted earnings per share of $1.55, up 4 percent, compared with third-quarter results last year.The Class I surpassed surpassed Wall Street analysts' expectations for the quarter. Analysts expected NS to post earnings of $1.45 per share, according to a survey by Zacks Investment Research.NS' railway operating revenue fell 7 percent to $2.5 billion for the quarter compared with the same period a year ago, due to reduced volumes and lower fuel surcharge revenue. Overall volumes declined 4 percent to 1.9 million units for the quarter, according to an NS press release."Our continued focus on efficiency and asset utilization, balanced with our commitment to customer service, drove an operating ratio of 67.5 percent for the quarter and a record 68.7 percent for the first nine months, setting us well on the way to achieving productivity savings of about $250 million and an operating ratio below 70 percent for the year — even in the face of economic headwinds," said Chairman, President and Chief Executive Officer James Squires.Moving forward, the company is well positioned for growth opportunities over the longer term, Squires said.Also during the quarter, NS reported general merchandise revenue dropped 10 percent to $1.6 billion compared with Q3 2015. The company's five merchandise commodity groups reported the following year-over-year revenue results:
• Chemicals, $408 million, down 10 percent;
• Agriculture, $380 million, even;
• Metals/construction, $337 million, up 2 percent;
• Automotive, $236 million, down 4 percent; and
• Paper/forest, $191 million, down 6 percent.Intermodal revenue slipped 7 percent to $575 million. Volume fell 1 percent as a result of lower volume from Triple Crown Services, which was restructured last year. Excluding Triple Crown Services, domestic intermodal volume and international volume rose 8 percent and 1 percent, respectively.NS' coal revenue declined 18 percent to $397 million compared with a year ago. Above-normal stockpiles and low natural gas prices combined to decrease coal volume by 15 percent.Railway operating expenses fell 10 percent to $1.7 billion primarily due to cost-cutting initiatives, lower fuel expenses, the absence of last year's restructuring costs, and gains from the disposition of operating property.Income from railway operations remained flat at $820 million compared with third-quarter 2015. The 67.5 operating ratio improved 2.2 points on a year-over-year basis. Contact Progressive Railroading editorial staff. More News from 10/26/2016

10/26/2016    

Rail News: Norfolk Southern Railway

Rail News Home Norfolk Southern Railway 10/11/2016 Rail News: Norfolk Southern Railway Norfolk Southern Railway told its customers yesterday that it invoked a "force majeure" clause for traffic destined for areas east of Selma, N.C.NS is working to restore service east of Selma to New Bern, N.C., after the Class I experienced multiple washouts during Hurricane Matthew over the weekend. As a result, the railroad invoked the force majeure contract clause starting Oct. 7 for traffic destined to the Chocowinity, Goldsboro and New Bern areas. The railroad said it would provide updates on when the line can be returned to service.A force majeure clause is a contract provision that allows a party to suspend certain performance guarantees as a result of unanticipated disruptions to normal service conditions. Contact Progressive Railroading editorial staff. More News from 10/11/2016

10/11/2016    

Rail News: Norfolk Southern Railway

Rail News Home Norfolk Southern Railway 10/3/2016 Rail News: Norfolk Southern Railway
The NS safety train offers continuing education to first responders.Photo – Norfolk Southern Corp.

10/3/2016    

Rail News: Norfolk Southern Railway

Rail News Home Norfolk Southern Railway 9/29/2016 Rail News: Norfolk Southern Railway Norfolk Southern Corp. announced yesterday that James Hixon, executive vice president law and corporate relations and chief legal officer, will retire effective Dec. 1.Hixon joined NS in 1985 as a tax attorney and was elected an officer of the company in 1993 when he was named vice president taxation. He subsequently was promoted to senior executive positions with a range of responsibilities, including senior vice president administration, and executive vice president finance and public affairs.Hixon was named to his current position in 2005."Jim has served Norfolk Southern in a wide variety of executive capacities for more than two decades," said James Squires, chairman, president and chief executive officer in a press release. "His contributions to the success of our company and to the overall vitality of the American railroad industry are significant and long-lasting."William Galanko, senior vice president law and corporate communications, will assume Hixon's legal and corporate communications responsibilities on Dec. 1.Galanko joined NS in 1990 as a tax attorney and was named vice president taxation in 1999, vice president financial planning in 2005, and vice president law in 2006. Also effective Dec. 1, NS named John Scheib vice president law to replace Galanko. Since joining NS in 2005, Scheib has held positions of increasing responsibility in the NS law department and currently is general counsel commerce. Contact Progressive Railroading editorial staff. More News from 9/29/2016

9/29/2016    

Rail News: Norfolk Southern Railway

Rail News Home Norfolk Southern Railway 9/20/2016 Rail News: Norfolk Southern Railway Norfolk Southern Corp. yesterday marked the first anniversary of its acquisition of the Delaware & Hudson Railway Co.'s line between Sunbury, Pa., and Schenectady, N.Y.During the past year, NS has improved customer service and invested in infrastructure in the corridor, according to an NS press release. The Class I installed 90,000 new ties, resurfaced 84 miles of track, and made improvements to the Belden Tunnel in New York.In addition, NS hired 166 new employees, including 140 former Delaware & Hudson workers.Service improvements, including an average eight daily trains, have helped attract additional rail traffic and shifted long-haul trucks off roadways. NS intermodal terminals at Ayer, Mass., and Scranton, Pa., have seen double-digit volume growth during the past year, NS officials said.NS acquired 282 miles of Delaware & Hudson track for $214.4 million from Canadian Pacific. The line connects to NS's network at Sunbury and Binghamton, N.Y., as well as to its joint venture subsidiary Pan Am Southern at Mechanicville, N.Y. Together, the Pan Am Southern network, which serves New England markets, and the former Delaware & Hudson line provide NS with a single-line route linking Chicago and southeastern U. S. markets to the capital region of New York. Contact Progressive Railroading editorial staff. More News from 9/20/2016