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Rail News Home Norfolk Southern Railway 10/27/2021 Rail News: Norfolk Southern Railway
Norfolk Southern Corp. today reported third-quarter 2021 financial results, which included Q3 records for net income, diluted earnings per share, income from railway operations and operating ratio.Third-quarter net income was $753 million, diluted earnings per share was $3.06, income from railway operations was $1.1 billion and the operating ratio was 60.2%.Railway operating revenue increased 14% to $2.85 billion compared with Q3 2020.Railway operating expenses during the quarter rose 3% to $1.7 billion. Last year’s results included a $99 million impairment charge related to an equity method investment. Excluding the impairment charge, operating expenses were up 10% compared with adjusted operating expenses in Q3 2020, driven by higher fuel, purchased services and compensation and benefits expenses.The $1.1 billion in railway operations income was a 35% increase on a year-over-year basis. Excluding the effect of the impairment charge in Q3 2020, income from railway operations was up 21%.The operating ratio of 60.2% was an improvement of 630 basis points over Q3 2020. Excluding the effect of last year’s impairment charge, the operating ratio improved 230 basis points over the adjusted results for Q3 2020."Our team delivered a strong financial performance in the quarter, producing a number of third-quarter records," said NS Chairman, President and CEO James Squires in a press release. "The actions taken by our employees show our commitment to find sustainable solutions for our customers and shareholders in the face of significant supply chain disruptions."

Rail News Home Norfolk Southern Railway 10/26/2021 Rail News: Norfolk Southern Railway
Norfolk Southern Corp. has donated the full Southern Railway company archives, as well as $500,000, to the Atlanta History Center.The archives, which include hundreds of thousands of pages of documents — from photos to construction plans and reports — show the history of Atlanta’s transit growth from the 1840s to today. The $500,000 will help the museum digitize and preserve the collection. Southern Railway merged with Norfolk & Western in 1982 to create the present-day Norfolk Southern Railway. NS Chairman, President and CEO James Squires said the archives belong to Atlanta because of the history they represent."The history of Southern Railway is inseparable from the history of this region," Squires said in a press release. Decades of rail history is ultimately the reason Atlanta has grown into the city it is today, said Sheffield Hale, president and CEO of the Atlanta History Center."This collection is crucial to uncovering the many stories behind the city's transformation," Hale said. "We're excited to have the opportunity to preserve this history and make it publicly available for students and teachers, researchers, and those who are simply interested in Atlanta."