“It’s going to require an industrywide response,” Norfolk Southern CEO Alan Shaw said Wednesday on the Ohio train derailment, adding the company established a training facility that “gives us an opportunity to further train first responders...”
The earnings release reaffirmed Norfolk Southern CEO Alan Shaw's commitment to supporting cleanup efforts in Ohio, pledging roughly $24 million in reimbursements and investments.General view of the site of the derailment of a train carrying hazardous waste, in East Palestine, Ohio, U.S., March 2, 2023.on Wednesday reported an initial $387 million charge associated with the company's East Palestine, Ohio, derailment in February, which spilled toxic chemicals into the environment.
Norfolk Southern said income from railway operations for the quarter was $711 million, down 34% from the same period in 2022. Excluding the East Palestine derailment, income from railway operations was $1.1 billion, up 1% compared to the same period the year prior.fell to $466 million, or $2.04 a share, down from $703 million, or $2.93, a year earlier. That comes despite a year-over-year jump in revenue of roughly 7% to $3.13 billion.
Here's how Norfolk Southern performed in the first quarter, compared with Refinitiv consensus estimates:$3.13 billion, vs. $3.11 billion expected
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Norfolk Southern stock gains after earnings, excluding charge of nearly $390 million related to train derailment, beats expectationsShares of Norfolk Southern Corp. edged up 0.2% in premarket trading Wednesday, after the railroad operator reported first-quarter adjusted profit and revenue...
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