“Short-term pressure,” in the words of President and CEO Jim Squires, contributed to Norfolk Southern on July 27, 2015 posting second-quarter 2015 financials with significant declines in net income, operating revenues and earnings per share, and an operating ratio that rose 350 basis points.
Norfolk Southern’s Bellevue, Ohio yard, the largest classification yard on the NS system, will be renamed “Moorman Yard” in honor of Charles W. “Wick” Moorman, who retired June 1, 2015, as CEO after a 45-year career and has assumed duties as Executive Chairman of the railroad’s board of directors.
At Washington, D.C.’s Union Station, Norfolk Southern dedicated its latest commemorative locomotive, an SD60E painted in a vibrant red, white and black livery with gold accents and insignia recognizing police, fire, and emergency services, honoring first responders. Numbered 9-1-1, the locomotive will enter general revenue service on NS’s 22-state network.
Norfolk Southern is bringing its “Train Your Brain” public safety campaign, now in its ninth year, to central and south Georgia to remind people to be safe and alert around railroad tracks and trains.
The Surface Transportation Board announced on May 15, 2015 that it will begin a proceeding to define intercity passenger railroad on-time performance for purposes of Section 213 of the Passenger Rail Investment and Improvement Act of 2008 (PRIIA), 49 U.S.C. § 24308(f). It also approved Norfolk Southern’s acquisition of approximately 283 miles of rail line from the Delaware & Hudson Railway Company, Inc. (D&H).
Norfolk Southern has named Alan H. Shaw Executive Vice President and Chief Marketing Officer, effective May 16, 2015. He succeeds Donald W. Seale, who retired after 39 years in management positions in NS’s marketing division.
Addressing his final annual meeting as Norfolk Southern’s CEO, Wick Moorman told shareholders that “we see continuing strength in the overall economy as well as opportunities in many of the markets we serve. We are confident in our company’s long-term strengths and prospects for continued success.”
Norfolk Southern Corporation (NS), on May 12, 2015, announced that 66 of its customers have been awarded the 2014 Thoroughbred Chemical Safety Award for altogether safely shipping more than 227,000 carloads of hazardous chemical products over the railroad’s network last year.
A 16% dip in coal revenue was the main factor contributing to a 16% drop in net income and a 17% drop in diluted earnings per share for Norfolk Southern Corp.in first-quarter 2015. The operating ratio rose slightly, as well.