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Last $84.33 USD
Change Today -1.47 / -1.71%
Volume 2.6M
NSC On Other Exchanges
Symbol
Exchange
New York
As of 8:04 PM 07/31/15 All times are local (Market data is delayed by at least 15 minutes).

norfolk southern corp (NSC) Key Developments

Norfolk Southern Corporation Reports Earnings Results for the Second Quarter and First Six Months of 2015; Provides Financial Guidance for 2015

Norfolk Southern Corporation reported earnings results for the second quarter and first six months of 2015. For the quarter, the company reported 23% drop in profit follows the same story line as other railroads seeing a sharp decline in coal shipments. The company posted $433 million net income, or $1.41 per share. That's down from $562 million, or $1.79 per share, a year ago. Revenue decreased 11% to $2.71 billion compared to $3.04 billion for the same quarter ended March 31, 2014 because coal volume fell 21% and total volume declined 2%. Cash from operations for the first six months was $1.5 billion, covering capital spending and producing $587 million in free cash flow. Net income for the six months ended June 30, 2015 was $743 million, or $2.41 per diluted share, compared to $930 million, or $2.97 per diluted share, for the same period ended June 30, 2014. Railway operating revenues for the six months ended June 30, 2015 were $5.28 billion, compared to $5.73 billion for the same period ended June 30, 2014. With regard to capital spending for the remainder of the year and given the lower-than-expected volumes, the company has trimmed back its 2015 capital budget by $130 million or about 5%. 2/3 of the reductions are related to work on the line of road and 1/3 is related to equipment. Assuming normalized returns on these assets in the second half of the year, the company expects the full year income tax rate to be about 37.5%.

Norfolk Southern Corporation Declares Regular Quarterly Dividend, Payable on September 10, 2015

Norfolk Southern Corporation announced the regular quarterly dividend of 59 cents per share on its common stock, payable on Sept. 10 to stockholders of record on Aug. 7.

Norfolk Southern Corporation, Q2 2015 Earnings Call, Jul 27, 2015

Norfolk Southern Corporation, Q2 2015 Earnings Call, Jul 27, 2015

Norfolk Southern Announces Additional Responsibilities for Jeffrey S. Heller and Cary G. Booth in Intermodal Department

Norfolk Southern announced that Jeffrey S. Heller and Cary G. Booth have assumed additional responsibilities in Norfolk Southern's intermodal department. Heller, currently vice president intermodal and automotive marketing, is now vice president intermodal and automotive, and will report to Shaw. Heller will continue responsibility for intermodal and automotive marketing and sales, adding responsibility for intermodal operations and systems. Booth, currently assistant vice president intermodal service development, is now group vice president intermodal operations, and will report to Heller, with responsibility for intermodal terminals, equipment, and service. In their expanded roles, Heller and Booth are handling the responsibilities formerly conducted by Shaw as the corporation's previous vice president intermodal operations. Both changes were effective May 16. Heller and Booth have offices in Norfolk. Heller joined Norfolk Southern's international intermodal group in 1994 after working with container shipping and intermodal companies both in the U.S. and abroad. He was named group vice president international intermodal in 2004 and then vice president of intermodal and automotive marketing, his most recent position, in 2013. Booth joined Norfolk Southern in 1984 as a management trainee. He served in positions of increasing responsibility in the corporation's marketing and intermodal departments before being named director intermodal operations East in 1998 and then assistant vice president intermodal service development, his most recent position, in 2006.

Norfolk Southern Corp. Names Alan Shaw as Executive Vice President and Chief Marketing Officer

Alan H. Shaw has been named executive vice president and chief marketing officer by the board of directors of Norfolk Southern Corp. The appointment is effective May 16, 2015, with an office in Norfolk, and Shaw will report to NS President James A. Squires. He succeeds Donald W. Seale, who retired after 39 years in management positions in NS' marketing division. Reporting to Shaw will be NS' merchandise, intermodal, and coal marketing organizations; the teams that manage shipping options such as short line connections and the transload network; real estate services; and the corporation's industrial development services for companies that want to locate and expand rail-served businesses.

 

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