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.
The Valley's Michelle Lally moves on from husband Jesse with rumored new boyfriend Aaron Nosler
Chinese miners trapped underground for more than a week send out note to raise survival hopes
Peru protests block access to Machu Picchu, stranding tourists
Fa'anānā Efeso Collins: 'The giants whose shoulders I stand on'
Imprisoned man indicted in 2012 slaying of retired western Indiana farmer
On Your Side: Who needs a will, and how do you create one?
Asbestos exposure register should be continued
Chinese censors give Fight Club movie a new ending where police win
The plate as palette: Set the table and the mood with the latest in creative dishware
Government thinks disabled 'add no value to society'
Gov. Gavin Newsom wants to let Arizona doctors provide abortions in California
Changes to Gloriavale response could risk gains