Three Norfolk Southern freight trains were involved in a Nov. 8 derailment in Hempfield, Pa., about three miles east of Greensburg, Pa. (near Pittsburgh), on the high-density Pittsburgh-Philadelphia double-track main line. There were no injuries and no hazmat spills. NS restored service on both main tracks early Nov. 10. The cause of the derailment remains under investigation.
Norfolk Southern Corp. (NS) reported 3Q19 financial results, including a 3Q record operating ratio of 64.9%, as well as a net income of $657 million and diluted earnings per share of $2.49.
It’s third-quarter 2019 railroad financial results reporting time, and sometimes, insight about rail freight markets comes from strange places. One of those might just be the quarterly report by J.B. Hunt (JBHT). The Hunt logistics company is one of the largest U.S. intermodal rail organizers. It essentially buys contracted intermodal train service from railroad companies like BNSF and Norfolk Southern.
Norfolk Southern (NS) released its 2019 Corporate Social Responsibility (CSR) report, which highlights initiatives that aim to support a cleaner environment, promote economic growth and jobs, foster a diverse and inclusive workplace, and build stronger communities.
Former CN President and CEO Claude Mongeau has been elected a director of Norfolk Southern Corp. Mongeau, 57, has been appointed to the Compensation Committee and the Finance and Risk Management Committee of the Norfolk Southern board and will serve as an independent director.
RAILWAY TRACK & STRUCTURES at RAILWAY INTERCHANGE: The education energy was flowing during the second day of the AREMA 2019 technical conference at Railway Interchange in Minneapolis.
Following seven years of painstaking research and development, CNGMotive, Inc., has rolled out the rail industry’s first compressed natural gas (CNG) locomotive fuel tender. The company co-founded in 2015 by David I. Scott and Pedro Santos has partnered with Norfolk Southern for a revenue service test. Kasgro Rail Corp. of New Castle, Pa., best known for building and operating Schnabel railcars, constructed the tender, which externally looks something like a combination of an intermodal well car and hi-cube boxcar. The Hale Hamilton Valves Ltd. business unit of U.K.-based CIRCOR provided the CNG pressure reduction and control systems.
Norfolk Southern Executive Vice President and Chief Financial Officer Cynthia “Cindy” Earhart is retiring after 34 years at the railroad, effective Nov. 1. Her replacement is Mark George, who comes to NS from United Technologies Corp.
Norfolk Southern on Aug. 14 announced promotions for two senior-level managers, effective Aug. 16: Vanessa Allen Sutherland and Michael Farrell. Allen Sutherland, previously Vice President Law, is now SVP Government Relations and Chief Legal Officer. Farrell, previously Senior Vice President Transportation, is now SVP Operations and Mechanical.
Norfolk Southern’s second-quarter 2019 financials were not much different than those of most of its Class I peers: Record operating income, operating ratio, net income and earnings per share, despite a substantial volume decrease.