Norfolk Southern (NSC) Misses Q4 EPS by 4c

Norfolk Southern announces further details of its strategic plan to reduce costs, drive profitability, and accelerate growth

NORFOLK, Va., Jan. 27, 2016 /PRNewswire/ -- Norfolk Southern Corporation (NYSE: NSC) ("the Company") ("Norfolk Southern") today announced further details of its strategic plan designed to streamline operations and drive profitability and growth. The Company's projected expense reduction and disciplined cost control initiatives are in the categories of compensation and benefits, purchased services and rents, materials, and fuel.

The Company expects to achieve annual productivity savings of more than $650 million per year by 2020, growing from an initial $130 million in 2016. With this plan, Norfolk Southern expects to improve consistency, reliability, and... More

Norfolk Southern reports fourth-quarter and full-year 2015 results

NORFOLK, Va., Jan. 27, 2016 /PRNewswire/ -- Norfolk Southern Corporation (NYSE: NSC) today reported fourth-quarter and 2015 financial results.

Fourth-quarter net income was $361 million, or $1.20 per diluted share, compared with $511 million, or $1.64 per diluted share, in fourth-quarter 2014. For 2015, net income was $1.6 billion, or $5.10 per diluted share, compared with $2.0 billion, or $6.39 per diluted share, in 2014.

Results included expenses related to restructuring the company's Triple Crown Services subsidiary and closing its Roanoke, Va., office, which together reduced fourth-quarter net income by $31 million, or $0.10 per diluted share, and lowered 2015 net income by $58 million, or $0.19 per diluted share.... More