The Company uses these non-GAAP financial measures internally and believes this information provides useful supplemental information to investors to facilitate making period-to-period comparisons by excluding the effects of the Incident. This cloud. Reconciliation of Non-GAAP Financial MeasuresInformation included within this filing includes non-GAAP financial measures, as defined by SEC Regulation G. Non-GAAP financial measures should be considered in addition to, not as a substitute for, the financial measures reported in accordance with U.S. generally accepted accounting principles (GAAP). It joins Norfolk Southern and Union Pacific, which both filed similar lawsuits against the unions last month. Norfolk Southern also has the most extensive intermodal network in the eastern U.S., serving a majority of the country's population and manufacturing base, with connections to every major container port on the Atlantic coast as well as the Gulf of Mexico and Great Lakes. Our areas of expertise include Commercial Moving Services, Warehousing, Document Shredding and Storage Solutions. We are proud to provide our customers with these services and value by trained professionals. Even if business bounces back, the industry embrace of PSR promises to hold down the need for more workers. Revenue grew 7% to $3.13 billion, in line with expectations, as it increased rates for most of the cargo it delivered. With the financial collapse of 2008 and a change in generations, rail workers stopped relying on the work and returned in smaller numbers. The volume decline is similar to what occurred at the end of 2015, although the job losses are worse. A worker safety advocacy group, the National Council on Occupational Safety and Health, issued a report Wednesday labeling Norfolk Southern and the other major freight railroads as some of the most dangerous employers in the nation because of those labor concerns about the impact of the cost cutting. Volume was flat overall. Today, it operates a customer-centric and operations-driven freight transportation network. Join OAR in bridging connections with first responders. Since 1827, Norfolk Southern Corporation (NYSE: NSC) and its predecessor companies have safely moved the goods and materials that drive the U.S. economy. WebHealth Questionnaire for employee returning to work from non-medical absence of six months or longer Return to Work Form Medical Condition and Medication Guidance: But Norfolk Southern said that because its bargaining agreements allow it to make changes in order to comply with new laws, including Bidens executive order, it has not violated the RLA. BNSF and Union Pacific are putting their vaccine mandates on hold following a federal court decision on Tuesday. Without the derailment costs, the railroad estimated that it would have made $1.1 billion, or $3.32 per share, exceeding the $3.15 Wall Street expected, according to a survey by Zacks Investment Research. We know that employees thrive in a workplace where differing viewpoints, ideas, and experiences are freely shared and valued. Todays rail slump is partly a fallout from the trade war and partly the result of long-term trends like the United States becoming less reliant on coal, experts say. Our training requirements could not be sustained due to COVID restrictions, says Michael Urena, Manager, Transportation Training, Training and Development, CN. To learn how to enable JavaScript in your browser, In October, both UP and NS said they would be complying with an executive order by President Joe Biden that federal employees and contractors must receive the And creating ways to keep them engaged and always learning is the conduit for this commitment. Yetthose who livenear the derailment site close to the Ohio-Pennsylvania border are fearful ofpossible long term health impactseven though officials say that repeated testing hasnt shown harmful levels of chemicals in the air or drinking water. Adding to the potential for infection, the same train crews detailed above often have to report to a physical building with others to get required paperwork, and instructions from operational personnel to complete their duties. Similar rules have generated disputes in a variety of workplaces. Probably in the range of 35 to 45percent of our business, said John Gray, senior vice president of policy and economics at the Association of American Railroads, the industrys main trade group. What three people used to do, one person is doing now.. These results include an initial $387 million charge associated with the incident in Eastern Ohio and do not reflect any amounts potentially recoverable under the companys insurance policies, which would be reflected in future periods in which recovery is considered probable. These results include an initial$387 million charge associated with theincident inEastern Ohio and do not reflect any amounts potentially recoverable under the company's insurance policies, which would be reflected in future periods in which recovery is considered probable. Copyright 2023 The Associated Press. This system is for the use of authorized users only. The derailment cleanup has slowed traffic on a busy east-west corridor for the railroad because it has only had one of its two tracks in service since March while it is digging up contaminated soil. PSR touts itself on reducing assets such as track, cars and locomotives, but little is discussed about maintaining the assets that remain. The railroad provided a detailed estimate of the cost of Feb. 3 derailment outside East Palestine, Ohio, Wednesday along with first-quarter earnings. It was enormous and only had two people working it. While the U.S. economy overall is growing moderately, the railroad industry is a cautionary sign of the ongoing pain in the industrial sector and the deep structural changes underway in the economy that are eliminating middle-class jobs. We just had our first child in July.. Its a huge issue. Learn more by visiting www.NorfolkSouthern.com. Some freight carriers would like to cut down the typical personnel on a freight train from two (a conductor and engineer) to one. That estimate doesnt include money Norfolk Southern, based in Atlanta, will put into funds to help cover any long-term health issues, protect drinking water and compensate residents for the loss in their property values because the details are still being worked out with Ohios attorney general. Regulatorsandmembers of Congresshave proposed reforms like capping freight trains lengths and setting standards for the trackside detectors used to spot problems. That work is expected to wrap up in early June, which will boost traffic in the area. Its dedicated team members deliver more than 7 million carloads annually, from agriculture to consumer goods, and is the largest rail shipper of auto products and metals in North America. Our emphasis on superior service will continue to drive our long-term growth strategy. WebCOVID-19 Masking Policy at Norfolk Department of Public Health Visitors can now enter non-clinical spaces in the Norfolk Department of Public Health facilities without using a More than 20,000 rail workers have lost their jobs in the past year, the biggest layoffs in rail since the Great Recession and a nearly 10percent decline in rail employment, according to Labor Department data through November. Norfolk Southern is a major transporter of industrial products, including chemicals, agriculture, and metals and construction materials. ", Squires' full remarks are posted on the "Invest in NS" section of the Norfolk Southern website under "Presentations.". These efficiency gains helped the railroad achieve an adjusted operating ratio of 63.7% in the first quarter of 2020, when excluding the charge related to the disposition of locomotives. "As a result of our transformation, we've set records for metrics such as train speed, terminal dwell, and shipment consistency," Squires said. Shaw pledged to continue working to improve that record as the railroad applies the lessons from East Palestine. 5. Policies. WebA: We do not want anyone to leave Norfolk Southern over the mandate and will work with employees who are legally entitled to an accommodation. "None of us can predict the severity or duration of this economic downturn, so we are focused on the factors within our control. Our employees have diverse and often deeply held views on this topic, and we respect those differences. This greatly decreases chances for infection. These statements relate to future events or our future financial performance and involve known and unknown risks, uncertainties, and other factors that may cause our actual results, levels of activity, performance, or our achievements or those of our industry to be materially different from those expressed or implied by any forward-looking statements. For some, this news will require a difficult individual choice. Staffing Efficiencies Closely Tied to Safety and Resiliency. Review Norfolk Southerns operating reports and the terms used to report performance in one convenient location. Workers across the country report an increase in hitching two trains together on their routes. The class action complaint against Norfolk Southern, captioned Bucks County Employees Retirement System v. Norfolk Southern Corporation, et al. The strategy has taken hold among major U.S. freight railroads since 2017, as executives hunted for a way to increase profits to make up for shrinking coal traffic and the recent downturn in the industrial economy. 2 killed, 4 wounded in Mississippi shooting; man arrested, 150 years later, Dixon bridge tragedy among nation's worst, Presidential candidate Vivek Ramaswamy says he wants to 'shut down the FBI' and replace it with something that sounds a lot like the FBI, Sanders: Biden could win in a landslide, Sacred Mysteries: A vaulted cavern of gold mosaic off Goodge Street. Thank you for all you do to serve our customers and communities.. Norfolk Southern Railway Co has filed a lawsuit seeking to block its employees' unions from suing over a COVID-19 vaccine mandate and to prevent its The Company recognized $387 million of expenses during the first quarter related to the Incident. The seven major freight railroads have idled nearly 30percent of locomotives in the past year, according to the economist Blaze, as they aim to run fewer but longer trains. A centerpiece is the railroad's TOP21 operating plan, which has transformed how it operates trains on the network and contributed to record levels of train performance and service. To find a Port of Entry in your state or territory, select it in the map below or use the form in the right column. Luke Nichols, 470-867-4807. COVID-19 Vaccines COVID-19 Vaccines Published October 4, 2020 Last Updated April 4, 2023, 7:11 pm Vaccines are crucial tools in the fight against deadly infectious diseases. 4. These statements relate to future events or future performance of Norfolk Southern Corporation's (NYSE:NSC) ("Norfolk Southern," "NS" or the "Corporation"). Norfolk Southern (@nscorp) February 17, 2022 Starting pay for employees begins at $52,000, which increases over four years to a minimum of around $63,500. A Union Pacific spokeswoman said the average train length is about 1.5miles. The railroad does have insurance coverage that will kick in after the first $75 million spent on damage to peoples property and after the first $75 million of damage on its own. Wall Street has applauded the changes, signaling this could be a model for other industries that encounter rough times. Its unsafe to have rail crossings blocked so long.. Norfolk Southerns history spans nearly two centuries to the earliest days of American railroading. You can apply at the same place you share your vaccination status by choosing Personal Information on SuccessFactors. The congressional mandate to mitigate fatigue among crew members and other safety-related workers is now a And also more susceptible to risk than ever. 2. Digitizing these processes eliminates maintenance costs and frees real estate for other purposes. The railroad does have insurance coverage that will kick in after the first $75 million spent on damage to peoples property and after the first $75 million of damage on its own. Certain statements in this press release may be considered forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. As a result, actual outcomes and results may differ materially from those expressed in forward-looking statements. And in light of COVID, safety has expanded to include a focus on resiliency, as a tighter headcount requires a more proactive approach to keep trains running on schedule. If you arent fully vaccinated by November 8, you should still share your status and update your record later. BNSF filed a Norfolk Southern said it has already spent about $55 million to dig up and remove nearly 34,000 tons of contaminated soil and trucked away another 13.2 million gallons of tainted water. About Norfolk Southern The city laid off 470 part-time employees this year for the same Adjusting for the Eastern Ohio Incident, income from railway operations was $1.1 billion, up $13 million or 1% compared to first quarter 2022. The process was smooth and easy. In addition to this strong employee performance, Squires said the company's Reimagine '21 strategic plan, rolled out in 2019 and built on the tenets of precision scheduled railroading, is driving long-term, transformational improvements in operating efficiencies and customer service. To find a location offering vaccination in your community, weve created a resource page with links to search by zip code. These and other important factors, including the risks and uncertainties related to the COVID-19 pandemic and those discussed under "Risk Factors" in the Corporation's Form 10-K for the year ended December 31, 2019, filed with the Securities and Exchange Commission ("SEC"), as well as the Corporation's other public filings with the SEC, may cause actual results, benefits, performance, or achievements to differ materially from those expressed or implied by these forward-looking statements. However, the need for social distancing as a result of COVID-19 necessitated the expanded use of remote simulation monitoring and training. Railroad worker checking up wheels and braking system of freight train. For the quarter, income from railway operations was $711 million, and diluted earnings per share were $2.04 down by 34% and 30%, respectively, compared to the first quarter 2022. According the NS petition, Reuters reported, the unions contend that imposition of a mandate constitutes a unilateral change to bargaining agreements in violation of the federal Railway Labor Act. Hundreds of black locomotives bearing the Norfolk Southern logo are parked back-to-back on the tracks that run through the heart of Roanoke. It makes for very bad train handling. None, the locomotive is very small environment and no changes were made to Servicing Northern California For Over 25 Years, Select The Service Your Interested InDocument ShreddingRecords ManagementPortable StorageMoving ServicesSelf StorageOffice MovingMoving Supplies. is to create and maintain customer confidence with our services and communication. Freight declines have typically foreshadowed trouble for the broader economy because theyre a barometer of how much stuff is heading to market. UP on Oct. 13 announced on its website that it is complying with the executive order requiring employees of federal contractors be fully vaccinated by Dec. 8. UP and its unions are suing each other over that requirement. As freight volume picks up in the second half of 2021 and beyond,concerns about meeting demand are rising,and training new or re-hires in a timely, efficient and safe manner will be critical. "We've decongested our yards and road network, allowing cars to turn quicker in the terminals and trains to move faster on the network. Shaw reiterated his often-stated promise Wednesday to do whatever it takes to make it right for East Palestine and the surrounding areas.. Service Alert : Service Update : Read More. Earick said he used to love his job. The price they quote you is guaranteed and if your load comes in on the scales below the pounds they quote you they will refund you the difference you paid. With safety as the industrys top priority, it just makes sense. And through it all, our Norfolk Southern employees will continue to get the job done safely, with excellence and pride.". He called it good productivity and said the company was accelerating this strategy heading into 2020. 1.16, has been designated as a variant under monitoring by the World Health Organization. The mandate stems from an Executive Order and associated guidance mandating that federal contractors require vaccinations for all employees. ATLANTA, April 26, 2023 / PRNewswire / -- Norfolk Southern Corporation (NYSE: NSC) announced Wednesday its first quarter 2023 financial results. Weve encouraged employees to follow guidance from public health experts regarding vaccination, but we havent mandated vaccination as some companies have done. Volumes are down so much on major American railways in the past year that some economists say the nation is in the midst of a freight recession.. These statements relate to future events or our future financial performance and involve known and unknown risks, uncertainties, and other factors that may cause our actual results, levels of activity, performance, or our achievements or those of our industry to be materially different from those expressed or implied by any forward-looking statements. laura lehn - via Google, I highly recommend Mayflower. David Earick had eight years of seniority with Norfolk Southern in Roanoke as a pipe fitter, a job similar to a diesel mechanic. Fact-checking Trumps reaction to Bidens reelection announcement. BNSF said in its lawsuit that it regularly updates its requirements for workers when federal regulations change, so the vaccine mandate should be no different. If you need an accommodation, please seek one. The $387 million estimate includes the $30.9 million the railroad pledged to help residents and the community around East Palestine recover from the derailment. By continuing to execute our strategic plan and provide superior service to our customers, we will move through this period successfully and be ready to capture opportunities as the economy recovers. Thats down from $703 million, or $2.93 per share, a year ago. Thats better than the three previous years but still worse than a decade earlier when it reported 11.4 total accidents per million miles. Youre not getting a callback, said Earick, 32. Norfolk Southern also has the most extensive intermodal network in the eastern U.S., serving a majority of the countrys population and manufacturing base, with connections to every major container port on the Atlantic coast as well as the Gulf of Mexico and Great Lakes. That means we are obligated by law to require vaccinations for our employees. Citi analyst Christian Wetherbee said the railroads core results were weaker than he expected and shares were down more than 3% Wednesday afternoon at $200.58. Shaw pledged to continue working to improve that record as the railroad applies the lessons from East Palestine. "Norfolk Southern has a history of successfully managing through business cycles and challenging economic environments," Squires said. We know railroads are the most environmentally friendly transportation solution, as they reduce emissions by taking trucks off of highways. Theyve gone from a mile, mile and a quarter, to two to three miles long, said Scott Wilcox. ATLANTA, April 26, 2023 / PRNewswire / -- Norfolk Southern Corporation (NYSE: NSC) announced Wednesday its first quarter 2023 financial results. The Class I railroad filed a petition in Chicago federal court on Thursday [Oct. 21] claiming the unions objections to the mandate must be brought in arbitration and not in court because they involve the interpretation of an existing bargaining agreement rather than changes to one, the multi-media news service explained. Our success enabled us to dispose of 703 locomotives that are no longer needed because our network is more efficient a strong sign that our strategic plan is working.". WebOur Vision: Be the safest, most customer-focused and successful transportation company in the world. There have also been periods such as 2015-16 when manufacturing, trucking and rail suffer, but the rest of the economy keeps growing. Norfolk Southern (NS) on Oct. 20 notified all employees that it will require them to receive the COVID-19 vaccination by Dec. 8; on Oct. 22, the railroad filed suit Norfolk Southern and other major freight railroads have announced new safety measures, including installing more than 1,000 more trackside detectors. Workers often embraced this as regular business and saved money for the time away, knowing that once volume increased, theyd be called back to work in most cases. Due to the executive order, NS said it reserves the right under its agreements with the unions to impose a mandate in order to comply.. Copyright 2023 The Associated Press. Also, many railroad terminals have several structures that exist for this purpose alone to house operations that could be managed remotely. Squires addressed shareholders during the company's first virtual-only annual meeting, a board decision made in light of public health concerns and social distancing guidance arising from the COVID-19 pandemic. Casey Moving Systems is family owned and has been servicing Northern California for over 25 years. Now, after PSR, railroads are running more trains with mixed goods and on a set schedule that leaves no matter what. Norfolk Southern and other major freight railroads have announced new safety measures, including installing more than 1,000 more trackside detectors. 1. Norfolk Southerns first quarter profit fell 34% to $466 million, or $2.04 per share, because of the derailment costs. NS, SMART-TD Reach Tentative Agreement on Workplace Enhancements, UP Embargo Update: Were Making Significant Progress, NARS 2023 Annual Meeting: A New Era in Railroading, MxV Rail Speeds PuebloPlex Track Construction Projects, Canadian Regulator Announces VRCPIs for Crop Year 2023-24, Class I Briefs: BNSF, CN, CPKC, CSX, CPKC/NS/UP, FRA Safety Advisory: Train Length a Critical Factor, CARB Passes New In-Use Locomotive Regulation, CN, UP, GMXT Launching Falcon Premium (Updated April 26 with UP STB Service Metrics). The railroads that have imposed vaccine mandates say they are complying with President Joe Biden's executive order requiring all federal contractors to have their employees vaccinated. Lori Baker - via Google. The federal deadline for employees to be fully vaccinated is December 8. Norfolk Southerns third-quarter earnings call Wednesday touched on two themes that have been prevalent among the rails this earnings season: the need to attract and retain employees and the impact of labor shortages in warehousing and drayage on NS intermodal service. Forward-looking statements Norfolk Southern said it has already spent about $55 million to dig up and remove nearly 34,000 tons of contaminated soil and trucked away another 13.2 million PSR is aided by new technology such as drones and artificial intelligence to monitor tracks and send customers alerts about train locations. Norfolk Southern reports first quarter 2023 results. They Refused to Fight for Russia. The income tax effects of this non-GAAP adjustment were calculated based on the applicable tax rates to which the non-GAAP adjustment related. Reconciliation of Non-GAAP Financial Measures ROANOKE Jeff Hollandsworth was told to do something recently that he had never done before in his many years working for Norfolk Southern Railway: Empty lockers. Regulatorsandmembers of Congresshave proposed reforms like capping freight trains lengths and setting standards for the trackside detectors used to spot problems. John Victor - via Google, Very nice owner, extremely helpful and understanding Rail freight carloads were down 7.4percent this November versus the prior year, according to closely watched data from the Association of American Railroads. Workers say the peak never came in 2019. CEO Alan Shawtold Congressthat he backs some proposals like enhanced standards for tank cars, but insists the data doesnt support other ideas like minimum two-person crews. Hello, you need to have JavaScript enabled to view this website. Our people rose to the challenge. The railroads focus on safety has resulted in one the safest industries in the transportation sector, and now they must apply this same vigor to maintenance training and processes, because there is no excess to get it wrong. Squires said the economic downturn triggered by COVID-19 will impact the railroad's business, noting that traffic volumes decreased by 11% in the first quarter of 2020 and continue to trend downward. What are the five most expensive homes that sold in Tahoe West Shore in the past two weeks? Every economic downturn since World War II has been precipitated by nose-diving freight traffic. CEO Alan Shawtold Congressthat he backs some proposals like enhanced standards for tank cars, but insists the data doesnt support other ideas like minimum two-person crews. WebNorfolk Southern honors the basic leave entitlements of the Family and Medical Leave Act, entitling employees to up to 12 weeks of unpaid job-protected leave for several reasons. Norfolk Southern said it has already spent about $55 million to dig up and remove nearly 34,000 tons of contaminated soil and trucked away another 13.2 million gallons of tainted water. Rail Group News offers news and analysis from Railway Age, IRJ and RT&S by email. Thats down from $703 million, or $2.93 per share, a year ago. Now I go in every day wondering if this is it., Comparisons of claims against the evidence, Railroads are slashing workers, cheered on by Wall Street to stay profitable amid Trumps trade war, Bidens misleading deficit claim earns him a Bottomless Pinocchio. Yet the National Transportation Safety Board and Federal Railroad Administration are investigating the railroads practices to see where they can be improved. Precision Scheduled Railroading (PSR)s aggressive approach to staff reduction often focused on groups or crafts with limited innovation. From the beginning, we have been guided by one principle: We are going to do whatever it takes to make it right for East Palestine and the surrounding areas, said Norfolk Southern President and Chief Executive Officer Alan H. Shaw. 650 W. Peachtree Street NW, Atlanta, Georgia 30308, Establishing Rail Service on Privately Owned Track, Establishing Rail Service on NS Owned Track, Rossville International Intermodal Optimized Stack Operations and Appointment System, Adjusted Intermodal Container Handling Fees, Public Tariff Announcement NSQ 72824 - effective May 1, 2023, Chicago 63rd St. Outgate Portal Temporary Closure, Board of Directors & Committee Membership, Norfolk Southern reports first quarter 2023 results, Norfolk Southern to announce Q4 2022 earnings, Norfolk Southern Reports Q4 and Full-year 2022 Results, Norfolk Southern reports third quarter 2022 financial results. A worker safety advocacy group, the National Council on Occupational Safety and Health, issued a report Wednesday labeling Norfolk Southern and the other major freight railroads as some of the most dangerous employers in the nation because of those labor concerns about the impact of the cost cutting. The average train length has increased 25percent since 2008 to about 1.4 miles, according to a Government Accountability Office report published in May. But theyre not likely to totally abandon the lean operating model adopted over the past six years that labor unions say has made the industry riskier because so many jobs have been cut.
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