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. 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. They point to a safety record that shows the industry is far safer today than it was two decades ago, although there have been several major derailments in recent weeks. Shaw reiterated his often-stated promise Wednesday to do whatever it takes to make it right for East Palestine and the surrounding areas.. This information will be treated as confidential medical information and handled as such. Forward-looking statementsCertain statements in this news release may be forward-looking statements within the meaning of the safe harbor provision of the Private Securities Litigation Reform Act of 1995. Norfolk Southern 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. At its worst, each crew member gets a paper copy (often several pages) of the train consist and other instructions. "We've decongested our yards and road network, allowing cars to turn quicker in the terminals and trains to move faster on the network. When you go to work now, its like going into a funeral home, Hollandsworth said. John Victor - via Google, Very nice owner, extremely helpful and understanding Learn more by visiting www.NorfolkSouthern.com. Revenue grew 7% to $3.13 billion, in line with expectations, as it increased rates for most of the cargo it delivered. Rail executives say these changes are delivering more reliable service that can better compete against trucks. Machinist (Diesel Engine Mechanic) - Kansas City, MO To learn how to enable JavaScript in your browser, WebThis is the SAME password used for RIT, Webmail and Windows. Adopting Digitization to Keep Workers Safe and Evolve. While we believe these expectations, assumptions, estimates, and projections are reasonable, such forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which involve factors or circumstances that are beyond our control. If youre trying to save money, you cut people like crazy.. With at least two workers (conductor and engineer) occupying the same space (locomotive cab) for 8 to 12 hours, and oftentimes with a different person every day, one trip with an infected co-worker can lead to the rapid erosion of workforce availability, delaying trains and terminal operations significantly. Join OAR in bridging connections with first responders. Its always been do more with less, but now its do more with less to the absolute extreme, said a conductor in Eastern Kentucky who spoke on the condition of anonymity for fear of retribution by CSX. (AP) Norfolk Southern expects Februarysfiery Ohio derailmentto cost it $387 million, but that total will likely increase over time and that doesnt reflect how much the railroads insurance companies will eventually cover. Fully automated freight trains began running in Australia about a year ago, a possible precursor of whats to come. 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. Craft employees will be paid any 2022 vacation for which you are eligible. ATLANTA, April 26, 2023 / PRNewswire / -- Norfolk Southern Corporation (NYSE: NSC) announced Wednesday its first quarter 2023 financial results. This system is for the use of authorized users only. That work is expected to wrap up in early June, which will boost traffic in the area. They foresee a rebound once Trump finalizes the trade deals with China, Mexico and Canada and if he subdues his tariff man instincts in an election year. Norfolk Southern Its at least a 50 page per trip process to get from point A to point B, and that is entirely unacceptable. Norfolk Southern Shareholder Action Reminder PSR touts itself on reducing assets such as track, cars and locomotives, but little is discussed about maintaining the assets that remain. 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 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. That work is expected to wrap up in early June, which will boost traffic in the area. We have based these forward- looking statements on our current expectations, assumptions, estimates, beliefs, and projections. Central District of California | Justice Department 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. Committed to furthering sustainability, Norfolk Southern helps its customers avoid 15 million tons of yearly carbon emissions by shipping via rail. Norfolk Norfolk has access to roughly $26 million in federal money to help the city government respond to the coronavirus pandemic. For our industry, trade has become just a huge part of what we do. 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). Digitization needs to happen very soon, and on a large scale or railroads will find themselves up against hard deadlines that leave them few choices to consider. We undertake no obligation to update or revise forward-looking statements, whether as a result of new information, the occurrence of certain events, or otherwise, unless otherwise required by applicable securities law. The Coronation whisky accidentally created in the Cotswolds. 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. The income tax effects of this non-GAAP adjustment were calculated based on the applicable tax rates to which the non-GAAP adjustment related. Review Norfolk Southerns operating reports and the terms used to report performance in one convenient location. CFR 49 Part 243 Virtual Training, with the Federal Railroad Administration and Heartwood: RAIL GROUP ON AIR, 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, CARB Passes New In-Use Locomotive Regulation, FRA Safety Advisory: Train Length a Critical Factor, CN, UP, GMXT Launching Falcon Premium (Updated April 26 with UP STB Service Metrics), Class I Briefs: BNSF, CN, CPKC, CSX, CPKC/NS/UP. I used their packing and moving service the first time and the second time I packed everything and they moved it. Norfolk Southern Corporation (NYSE: NSC) announced Wednesday its first quarter 2023 financial results. 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: Earick lost that job in April but opted to take a pay cut to continue working as a rail yard laborer. UP, BNSF and NS suspend COVID-19 vaccine mandates The goal now is to minimize stoppage and use the same locomotive and crew as much as possible, akin to the way the same airplane shuttles constantly between the Washington area and New York City. Today, it operates a customer-centric and operations-driven freight transportation network. You can apply at the same place you share your vaccination status by choosing Personal Information on SuccessFactors. When workers are continuously learning and increasing their value in their craft as an industry expert, they both appreciate their work and feelappreciatedby the railroad. In addition, the railroad operates the most extensive intermodal network in the East and is a principal carrier of coal, automobiles, and automotive parts. Canadian railroads embraced PSR over a decade ago. 4. What three people used to do, one person is doing now.. Norfolk If you need to ONLY access mainframe HORSE functions such as CREW CALL or MEMO, you may do so The Corporation has based these forward-looking statements on management's current expectations, assumptions, estimates, beliefs, and projections. Copyright 2023 The Associated Press. Employee Resource Center Hundreds of black locomotives bearing the Norfolk Southern logo are parked back-to-back on the tracks that run through the heart of Roanoke. The Department of Justice today announced criminal charges against 18 defendants in nine federal districts across the United States for their alleged participation in various fraud schemes involving health care services that exploited the COVID-19 pandemic and allegedly resulted in over $490 million in COVID-19 related false billings to federal Every economic downturn since World War II has been precipitated by nose-diving freight traffic. In some cases, forward-looking statements may be identified by the use of words like "will," "believe," "expect," "targets," "anticipate," "estimate," "plan," "consider," "project," and similar references to the future. They have a great system for tracking your belongings and a system for checking to make sure you got all of your belongings once you arrive at your destination. Volume was flat overall. 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. The forward-looking statements herein are made only as of the date they were first issued, and unless otherwise required by applicable securities laws, we disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. If you need an accommodation, please seek one. Here are five takeaways from this past year, around what to expect and potential ways to alleviate the impact of each. 1.16, has been designated as a variant under monitoring by the World Health Organization. Information 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). 650 W. Peachtree Street NW, Atlanta, Georgia 30308, Establishing Rail Service on Privately Owned Track, Establishing Rail Service on NS Owned Track, Dual Mission Reward Program: Memphis-Rossville, Announcement for Public Tariff NSRQ 70220 & NSRQ 66326, Effective 9-1-2022, Sharonville Primary Gate Temporary Closure - Update, Board of Directors & Committee Membership, Norfolk Southern Declares Quarterly Dividend, Norfolk Southern reports second quarter 2022 results, Norfolk Southern increases conductor trainee pay to $25 an hour; adds biweekly $300 incentive, Norfolk Southern announces Board of Directors changes, Income from railway operations in the first quarter 2023 was, Adjusting for the Eastern Ohio Incident, income from railway operations was, Adjusting for the Eastern Ohio Incident, diluted earnings per share were. Hiring and Furloughing Practices Require Rethinking. 5. Norfolk Southerns first quarter profit fell 34% to $466 million, or $2.04 per share, because of the derailment costs. Its a different way of running a railroad.. Revenue grew 7% to $3.13 billion, in line with expectations, as it increased rates for most of the cargo it delivered. 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. (AP) Another major railroad has gone to court to determine whether it has the authority to require all its employees to get vaccinated against the coronavirus. WebOur Vision: Be the safest, most customer-focused and successful transportation company in the world. Norfolk Southerns history spans nearly two centuries to the earliest days of American railroading. A prediction of disaster: Experts say its when, not if for a Railway Age reproduces the Oct. 20 NS memo, in full, below: Federal Vaccine Mandate Will Require Change in NS Policy. Forward-looking statements are not, and should not be relied upon as, a guarantee of future events or performance, nor will they necessarily prove to be accurate indications of the times at or by which any such events or performance will be achieved. The unions, which have filed some of their own lawsuits in response, argue that the railroads should have negotiated with them before imposing their mandates. Question: How has Norfolk Southern Corp responded to the COVID-19 outbreak? All rights reserved. BNSF Railway has gone to court to determine whether it has the authority to require all its employees to get vaccinated against the coronavirus. Norfolk Southern Rail Roundup: Lawmakers want worker fatigue addressed Weve encouraged employees to follow guidance from public health experts regarding vaccination, but we havent mandated vaccination as some companies have done. Even if business bounces back, the industry embrace of PSR promises to hold down the need for more workers. Rail executives say PSR enhances on-time delivery for customers. Thats down from $703 million, or $2.93 per share, a year ago. BNSF has contended the new attendance policy, effective Feb. 1, provides more transparency with work schedules. OMAHA, Neb. click here. Wall Street has applauded the changes, signaling this could be a model for other industries that encounter rough times. If you have a medical condition or sincerely held religious belief that prevents you from receiving the COVID-19 vaccine, you should apply for an accommodation by November 8. Many Norfolk employees will get hazard pay for working Shareholders at railroads are looking at the financial success of PSR and now every single big railroad is trying to adopt some form of this, Swan said. The average train length has increased 25percent since 2008 to about 1.4 miles, according to a Government Accountability Office report published in May. The income tax effects of this non-GAAP adjustment were calculated based on the applicable tax rates to which the non-GAAP adjustment related. The railroad provided a detailed estimate of the cost of Feb. 3 derailment outside East Palestine, Ohio, Wednesday along with first-quarter earnings. Regulatorsandmembers of Congresshave proposed reforms like capping freight trains lengths and setting standards for the trackside detectors used to spot problems. Some freight carriers would like to cut down the typical personnel on a freight train from two (a conductor and engineer) to one. Norfolk Southern In addition, these non-GAAP financial measures may not be the same as similar measures presented by other companies. Negotiations are underway between the major rail unions and companies. 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. And also more susceptible to risk than ever. GAAP financial results are adjusted to exclude the effects of a February 3, 2023 train derailment in East Palestine, Ohio that included 11 non-Company-owned tank cars carrying hazardous materials, fires associated with the derailment that threatened certain of the tank cars, and a controlled vent and burn procedure conducted on February 6, 2023 on the five derailed tank cars containing vinyl chloride (the Incident). Shaw pledged to continue working to improve that record as the railroad applies the lessons from East Palestine. 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. And maintenance and repair workers in rail yards long considered some of the most secure roles are also being let go. Everyone took really good care of our things. 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. Ive been one of the fortunate few who have never been laid off, Hollandsworth said. Now retired, he says although carrying more cargo per train may increase the companys profits, there is a drawback. About Norfolk Southern The class action complaint against Norfolk Southern, captioned Bucks County Employees Retirement System v. Norfolk Southern Corporation, et al. But now, rail industry leaders are cautiously optimistic. But the details of how much insurance will actually cover will be worked out over time. Norfolk Southern has let more than 3,500 employees go in the past year, including 175 in Roanoke, part of an aggressive push across the railroad industry to slash costs. Having an immediately accessible and mobile approach to these maintenance tasks for refresher trainers at set intervals will be crucial. Norfolk Southern saw a 6percent volume decline, but crew costs were down by 13percent, said Alan Shaw, the companys chief marketing officer. Providing global relocations solutions, storage and warehousing platforms and destruction plans. 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. 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. From the start of the pandemic, weve put a priority on maintaining safe and healthy workplaces as we pull together to keep our economy moving. The railroads are not alone in facing resistance to vaccine mandates. This isnt a bad thing, but its a necessary consideration. This greatly decreases chances for infection. All photographs taken prior to onset of the COVID-19 pandemic. Norfolk Southern and other major freight railroads have announced new safety measures, including more than 1,000 more trackside detectors. Norfolk Southern and Union Pacific stocks were up 30percent last year, and Kansas City Southerns shares were up more than 60percent. Casey Moving Systems is family owned and has been servicing Northern California for over 25 years. While the Company believes that these non-GAAP financial measures are useful in evaluating the Company's business, this information should be considered as supplemental in nature and is not meant to be considered in isolation from, or as a substitute for, the related financial information prepared in accordance with GAAP. But, as mentioned, when detailing how to lessen the spread of disease with technologysustainability efforts would benefit as well. Review Norfolk Southerns operating reports and the terms used to report performance in one convenient location. 2. When it comes to the paper trail that railroads create, theyre lagging far behind other industries. Ive never seen conditions like this in my 45-year career, said Jim Blaze, a railroad economist. They craved stability, and they realized they have options. What are the five most expensive homes that sold in Tahoe West Shore in the past two weeks? Norfolk Southern says the case presents a minor dispute because its bargaining agreements do not bar the railroad from adopting a vaccine mandate.. "Norfolk Southern has a history of successfully managing through business cycles and challenging economic environments," Squires said. 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.". As the call for sustainability grows, impacts will be assessed by every industry. Railway operating revenues of $3.1 billion, up 7%, or $217 million, compared to first quarter 2022. A Norfolk Southern spokeswoman said the company was focused on increasing efficiency and profitable growth and that as our business changes, so too do our personnel needs. Union Pacific stressed the environmental benefits of moving goods by rail instead of truck. In official business, based on preliminary results, shareholders elected 13 directors for terms expiring in 2021: In other preliminary results, shareholders approved three proposed amendments to the corporation's amended and restated articles of incorporation; ratified appointment of KPMG LLP as independent auditors for 2020; approved an advisory resolution on the compensation of executive officers; and rejected a proposal regarding shareholders' right to act by written consent. Now the cuts are happening to people with up to a decade of seniority. 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. 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. We had to look at our methodology of rules instruction in a different way, so that we could continue to provide our employees with the training they need to operate and work safely. The rail industry, which once employed more than a million Americans, fell below 200,000 employees in 2019, the first time that has happened since the Labor Department started keeping track of railroad employment in the 1940s. The volume decline is similar to what occurred at the end of 2015, although the job losses are worse. Our response reflects our strategy of focusing on long-term priorities and value.". BNSF said the unions don't dispute when it changes drug testing rules, and they didn't fight it earlier this year when the railroad imposed a mask mandate after the Federal Railroad Administration ordered it. And connecting back to the first item, precision scheduling also means railroads are left with precision maintenance. He called it good productivity and said the company was accelerating this strategy heading into 2020. If you suffered losses exceeding $100,000 investing in Norfolk Southern stock or options between October 28, 2020 and March 3, 2023, both dates inclusive (the Rail Group News offers news and analysis from Railway Age, IRJ and RT&S by email. Learn more about the NS Green Financing Framework. The unionsthe Transportation Division of the International Association of Sheet Metal, Air, Rail, and Transportation Workers (SMART-TD) and the Brotherhood of Locomotive Engineers and Trainmen (BLET)reported on Oct. 29 that they have filed counterclaims challenging NS actions in implementing the vaccine policy without the bargaining mandated by the Railway Labor Act. 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. The Law Did Not Treat Them Kindly. 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. UP and its unions are suing each other over that requirement. I am a repeat customer and have had two good experiences with them. And by practicing challenging or emergency scenarios regularly, overall safety and productivity correspondingly increase. November marked the 10th straight month that rail freight deteriorated from the last years stellar traffic levels. Some routes are now gone or downsized. . Hard working, fast, and worth every penny! Servicing Northern California For Over 25 Years, Select The Service Your Interested InDocument ShreddingRecords ManagementPortable StorageMoving ServicesSelf StorageOffice MovingMoving Supplies. As Hollandsworth cut the locks and removed his former co-workers coats, hats, power tools and hefty company rule books, he couldnt shake the feeling that the layoffs were different this time. 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. These and other important factors, including those discussed under "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2022, filed with the Securities and Exchange Commission (the SEC), as supplemented in Part II, Item 1A of our Form 10-Q to be filed with the SEC on the same date as this press release, may cause actual results, performance, or achievements to differ materially from those expressed or implied by these forward- looking statements. WebAt Norfolk Southern, we believe in celebrating our individuality. NS Requiring COVID-19 Vaccinations for All Employees My wifes freaking out. Customers and dray carriers can also utilize AccessNS and ExpressNS+TM for information concerning their 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. The forward-looking statements herein are made only as of the date they were first issued, and unless otherwise required by applicable securities laws, we disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. 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. Similar rules have generated disputes in a variety of workplaces. Rail workers rarely speak to the media out of fear of losing their jobs, but more than a dozen spoke with The Washington Post, mainly because of concerns over how PSR is changing the industry in ways they say causes unnecessary job losses and creates an unsafe environment. Learn more by visiting www.NorfolkSouthern.com. This results in a hiring and training of new personnel with every shift in volume and traffic. As railroads move to increasingly autonomous operations, requiring fewer personnel onboard, having in-depth and interactive training materials on-hand at all times both for review and practice will be critical. As part of a joint statement, SMART-TD President Jeremy Ferguson and BLET National President Dennis Pierce noted: We have been in contract negotiations with NS since November of 2019, and federal law absolutely bars railroads from changing rates of pay, rules and working conditions while negotiations are ongoing. Union Pacific, Norfolk Southern vaccine lawsuits
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