Norfolk Southern's earnings offer railroad chance to defend its strategy ahead of control vote
Norfolk Southern’s first-quarter earnings report Wednesday gave the railroad the opportunity to publicly defend CEO Alan Shaw’s strategy again before investors decide on May 9 whether to back him. Since the railroad already preannounced its disappointing results earlier this month when it disclosed a $600 million settlement over the disastrous February 2023 Ohio derailment there were few surprises in Wednesday’s numbers.
Norfolk Southern confirmed the $53 million, or 23 cents per share, that it earned in the first quarter. Without the settlement and some other one-time costs, the railroad said it would have made $2.39 per share while Wall Street was predicting earnings of $2.60 per share. The Atlanta-based railroad’s profit dropped from $466 million, or $2.04 per share, a year ago even though the railroad delivered 4% more shipments during the quarter.
Related articles
Georgia Republicans choose Amy Kremer, organizer of pro
COLUMBUS, Ga. (AP) — Georgia Republicans on Saturday elected to the Republican National Committee a2024-05-21China, Switzerland aim for updated FTA
China and Switzerland expressed willingness on Wednesday to officially launch negotiations on upgrad2024-05-21Domestic tourism industry set for 'full recovery' by summer
Cyclists ride the course at a factory-turned bike park in Shenxi village in Ningbo, Zhejiang provinc2024-05-21China eyes digital, green economy cooperation potential in Africa: MOC
BEIJING, April 11 (Xinhua) -- China's Ministry of Commerce (MOC) said on Thursday that the governmen2024-05-21Election 2024: Biden and Trump bypassed the Commission on Presidential Debates
PHOENIX (AP) — The nonpartisan Commission on Presidential Debates, which has planned presidential fa2024-05-21Shenzhou XVI crew looks forward to challenge
By ZHAO LEI (Chinadaily.com.cn) 08:48, May 30, 2023Shenzhou XVI crew members Zhu Yangzhu (right) and2024-05-21
atest comment