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.
Macron takes part in charity soccer game, showing off sporting prowess
Xi Sends Congratulatory Letter to Understanding China Conference
Hong Kong greets 1.3 mln visits during Spring Festival holiday
Lions agree to contract extensions with St. Brown and Sewell worth combined $200M, AP source says
With record scale, China's consumer products expo shares opportunities, market with world
REBECCA ENGLISH: Portrait of cricket
China encourages NEV companies to set up research centers abroad