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.
Related articles:
Related suggestion:
Young Chinese Adopt Intelligent Tech for Agricultural ProductionDay 4 Roundup: China Continues Dominance with 23 Golds, Another Shooting World Record ShatteredRescue Underway in FloodNinth Nishan Forum on World Civilizations Held in Qufu, E ChinaTen 'Comfort Women' Still Living on Chinese MainlandRelocated Mountain Women Empowered by New Roles and JobsMore real estate financing coordination mechanisms established in ChinaDanxia National Geological Park in NW China Attracts Tourists with Unique LandscapeVillage Super League, new gala for ethnic culture in SW ChinaVirtual Technology Showcased at 2023 CIFTIS
2.5473s , 6497.765625 kb
Copyright © 2024 Powered by Norfolk Southern's earnings offer railroad chance to defend its strategy ahead of control vote ,International Investigation news portal