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. |
Xi's vision can serve as pillar of multilateralismOver 1.61 mln people sign support for HKSAR district governance reformChinese path to modernization carries global significance (6)Chinese vice premier calls for rule of data for sustainable developmentRussia says Moscow terror attack suspects planned to flee to Kiev for rewardCPC leadership reviews guidelines on policies supporting construction of Xiong'anXi extends congratulations to National University of Defense Technology on 70th anniversaryPanarin scores tying goal, shootout winner as the Rangers edge Islanders 3Xi calls on Shaanxi to write new chapter in advancing Chinese modernizationChinese path to modernization carries global significance (7)