US Market News
1月前
Norfolk Southern Names Brian Barr Chief Operating OfficerJune 1, 2026 9:15 AM
PR Newswire (US) ATLANTA, June 1, 2026 /PRNewswire/ -- Norfolk Southern Corporation (NYSE: NSC) has appointed Brian Barr as Chief Operating Officer (COO). Barr has been with Norfolk Southern for two years leading the Mechanical department. As COO, he will leverage more than 28 years of experience, including more than a decade leading transportation teams in the east, to oversee Norfolk Southern's railway operations, including safety, transportation, network planning and operations, engineering and equipment maintenance."Brian is the right leader for Operations, bringing a strong commitment to safety, broad railroading expertise and a proven ability to build a fast, resilient network that earns customer trust every day," said CEO Mark George. "Brian's career has given him a front row seat to every aspect of the operation and a deep understanding of the complexities of an eastern rail network. This gives him a unique vantage point to help take us to the next level to serve our customer demands."Brian assumes the role effective June 1, 2026, following the departure decision of John Orr from the Executive Vice President and Chief Operating Officer role. Orr will remain employed as a special advisor to the Chair of the Board through June 30, 2026, at which time his employment will terminate, and he will retire from the Company effective July 1, 2026. To support continuity and the successful closing of the Union Pacific merger, and following his retirement, Orr will continue as a special advisor to the Chair of the Board through the earlier of the merger closing or June 1, 2027.George said, "We are grateful to John for his leadership and many contributions to our operations, including a clear focus on safety, and disciplined cost efficiency and advancing operational excellence. NS is better today because of John's impactful tenure.""I'm proud of the Thoroughbred team and the tremendous improvements we've made in operations over the past two years," Orr said. "Building generational railroaders has been a hallmark of my approach, and with the progress we made transforming NS, now is the perfect time for me to plan the next steps in life and to elevate the next generation of leaders to propel NS forward."During his career, Barr has held leadership roles of increasing responsibility including terminal superintendent, Senior Vice President Network Planning & Services, Senior Vice President Operations, Chief Mechanical Officer and Senior Vice President Engineering and Mechanical while at CSX. At Union Pacific he was Senior Vice President Transportation, having also held the position of General Manager Great Lakes Services. Barr began his career in 1998 as a craft dispatcher at Conrail.Since joining Norfolk Southern in September 2024, Barr has led meaningful, measurable progress for the Mechanical team, delivering significant improvements in safety performance, reducing FRA reportable injuries and mechanical-caused derailments. This has strengthened the reliability of the assets that power the Norfolk Southern network.Barr holds a business administration degree from Bellevue University and has completed the Executive Leadership Forum with Harvard Executive Education.About Norfolk Southern
Since 1827, Norfolk Southern Corporation (NYSE: NSC) and its predecessor companies have safely moved the goods and materials that drive the U.S. economy. Today, it operates a 22-state freight transportation network. Committed to furthering sustainability, Norfolk Southern helps its customers avoid approximately 15 million tons of yearly carbon emissions by shipping via rail. Its dedicated team members deliver approximately 7 million carloads annually, from agriculture to consumer goods. Norfolk Southern also has the most extensive intermodal network in the eastern U.S. It serves a majority of the country's population and manufacturing base, with connections to every major container port on the Atlantic coast as well as major ports across the Gulf Coast and Great Lakes. Learn more by visiting www.NorfolkSouthern.com. View original content to download multimedia:https://www.prnewswire.com/news-releases/norfolk-southern-names-brian-barr-chief-operating-officer-302787083.htmlSOURCE Norfolk Southern Corporation Original: Norfolk Southern Names Brian Barr Chief Operating Officer
US Market News
1月前
Creating America’s First Transcontinental Railroad: STB Accepts Union Pacific-Norfolk Southern Merger ApplicationMay 28, 2026 11:54 AM
Business Wire Union Pacific Corporation (NYSE: UNP) and Norfolk Southern Corporation (NYSE: NSC) today applauded the Surface Transportation Board (STB)’s decision to accept their merger application, calling it an important step toward a reinvigorated, more competitive U.S. railroad industry. The companies acknowledged the STB’s request for additional information on their amended merger application, reiterating their commitment to work constructively with the STB. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260528154189/en/ “We are confident this merger will deliver more reliable and lower-cost transportation options for American businesses,” said Union Pacific CEO Jim Vena. “We submitted a comprehensive, data-driven application backed by a detailed plan for seamless integration. We look forward to the opportunity to show the facts and demonstrate the benefits for our customers, employees and America.” “The time is right for a more competitive U.S. rail network that reduces costs for American shippers and consumers,” said Norfolk Southern President and CEO Mark George. “The added detail strengthened our analysis and enhanced integration planning in our amended application. We have more confidence than ever in the value this proposal will deliver for all stakeholders and look forward to a full and transparent review.” Enhanced Competition and Public Benefits The application’s analysis is the first in rail merger history to use 100% actual traffic data provided by all six North American Class I railroads, making it the most thorough assessment of market and operational impacts ever. Some of its key findings: A transcontinental railroad will create a stronger alternative to long-haul trucking, removing an estimated 2.1 million truckloads off the road annually. Giving shippers an attractive new option will make the entire supply chain more competitive, putting downward pressure on truck and rail prices. Manifest and bulk customers will save on inventory and equipment costs with the combined railroad’s faster, more reliable service. Shifting freight from higher-cost trucks to lower-cost rail is projected to save shippers an estimated $3.5 billion annually, helping lower costs across the supply chain. The merger will enhance competition by providing customers with access to seamless coast-to-coast rail service for the first time. For the limited group who will not directly benefit from a more competitive single-line option, Committed Gateway Pricing will allow more customers to share in the merger’s benefits. The combined network is projected to drive growth that will require approximately 1,200 net new union jobs by the merger’s third year. This growth is in addition to an unprecedented jobs-for-life guarantee – every union employee with a job at the time of the merger will continue to have one. Path Forward The process now moves into the merits-based review, during which the STB’s procedures recognize the agency may request additional information. In fact, in a previous merger transaction for a Class I railroad, the STB paused the procedural schedule after acceptance to obtain supplemental information about the transaction before later approving the merger. Union Pacific and Norfolk Southern will continue working closely with the STB to provide the requested information and further strengthen the record. Under the governing statute, the STB has 12 months from the date it publishes its acceptance to complete its evidentiary proceedings, providing a clear and defined path forward regardless of the timing of individual steps. Broad Support for a Transcontinental Railroad More than 2,000 stakeholders have submitted letters of support for the application, including customers, labor organizations, short line railroads, ports and business groups who believe a seamless transcontinental railroad will strengthen the U.S. supply chain and improve rail competitiveness. The two companies expect the transaction to be completed in mid-2027. For more information, visit AmericasGreatConnection.com. About Union Pacific Union Pacific (NYSE: UNP) delivers the goods families and businesses use every day with safe, reliable, and efficient service. Operating in 23 western states, the company connects its customers and communities to the global economy. Trains are the most environmentally responsible way to move freight, helping Union Pacific protect future generations. More information about Union Pacific is available at www.up.com. About Norfolk Southern Since 1827, Norfolk Southern Corporation (NYSE: NSC) and its predecessor companies have safely moved the goods and materials that drive the U.S. economy. Today, it operates a 22-state freight transportation network. Committed to furthering sustainability, Norfolk Southern helps its customers avoid approximately 15 million tons of yearly carbon emissions by shipping via rail. Its dedicated team members deliver approximately 7 million carloads annually, from agriculture to consumer goods. Norfolk Southern also has the most extensive intermodal network in the eastern U.S. It serves a majority of the country's population and manufacturing base, with connections to every major container port on the Atlantic coast as well as major ports across the Gulf Coast and Great Lakes. Learn more by visiting www.NorfolkSouthern.com Cautionary Note Regarding Forward-Looking Statements Certain statements in this communication are “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, as amended. These statements relate to future events or future financial performance and involve known and unknown risks, uncertainties, and other factors that may cause Union Pacific’s, Norfolk Southern’s or the combined company’s actual results, levels of activity, performance, or achievements or those of the railroad industry to be materially different from those expressed or implied by any forward-looking statements. In some cases, forward-looking statements may be identified by the use of words like “may,” “will,” “could,” “would,” “should,” “expect,” “anticipate,” “believe,” “project,” “estimate,” “intend,” “plan,” “pro forma,” or any variations or other comparable terminology. While Union Pacific and Norfolk Southern have based these forward-looking statements on those expectations, assumptions, estimates, beliefs and projections they view as 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 Union Pacific’s, Norfolk Southern’s or the combined company’s control, including but not limited to, in addition to factors disclosed in Union Pacific’s and Norfolk Southern’s respective filings with the U.S. Securities and Exchange Commission (the “SEC”): the occurrence of any event, change or other circumstance that could give rise to the right of one or both of the parties to terminate the definitive merger agreement between Union Pacific and Norfolk Southern providing for the acquisition of Norfolk Southern by Union Pacific (the “Transaction”); the risk that potential legal proceedings may be instituted against Union Pacific or Norfolk Southern and result in significant costs of defense, indemnification or liability; the possibility that the Transaction does not close when expected or at all because required Surface Transportation Board or other approvals and other conditions to closing are not received or satisfied on a timely basis or at all (and the risk that such approvals may result in the imposition of conditions that could adversely affect the combined company or the expected benefits of the Transaction); the risk that the combined company will not realize expected benefits, cost savings, accretion, synergies and/or growth from the Transaction, or that such benefits may take longer to realize or be more costly to achieve than expected, including as a result of changes in, or problems arising from, general economic and market conditions, tariffs, interest and exchange rates, monetary policy, laws and regulations and their enforcement, and the degree of competition in the geographic and business areas in which Union Pacific and Norfolk Southern operate; disruption to the parties’ businesses as a result of the announcement and pendency of the Transaction; the costs associated with the anticipated length of time of the pendency of the Transaction, including the restrictions contained in the definitive merger agreement on the ability of Union Pacific and Norfolk Southern, respectively, to operate their respective businesses outside the ordinary course during the pendency of the Transaction; the diversion of Union Pacific’s and Norfolk Southern’s management’s attention and time from ongoing business operations and opportunities on merger-related matters; the risk that the integration of each party’s operations will be materially delayed or will be more costly or difficult than expected or that the parties are otherwise unable to successfully integrate each party’s businesses into the other’s businesses; the possibility that the Transaction may be more expensive to complete than anticipated, including as a result of unexpected factors or events; reputational risk and potential adverse reactions of Union Pacific’s or Norfolk Southern’s customers, suppliers, employees, labor unions or other business partners, including those resulting from the announcement or completion of the Transaction; the dilution caused by Union Pacific’s issuance of additional shares of its common stock in connection with the consummation of the Transaction; the risk of a downgrade of the credit rating of Union Pacific’s indebtedness, which could give rise to an obligation to redeem existing indebtedness; a material adverse change in the financial condition of Union Pacific, Norfolk Southern or the combined company; changes in domestic or international economic, political or business conditions, including those impacting the transportation industry (including customers, employees and supply chains); Union Pacific’s, Norfolk Southern’s and the combined company’s ability to successfully implement its respective operational, productivity, and strategic initiatives; a significant adverse event on Union Pacific’s or Norfolk Southern’s network, including, but not limited to, a mainline accident, discharge of hazardous materials, or climate-related or other network outage; the outcome of claims, litigation, governmental proceedings and investigations involving Union Pacific or Norfolk Southern, including, in the case of Norfolk Southern, those with respect to the Eastern Ohio incident; the nature and extent of Norfolk Southern’s environmental remediation obligations with respect to the Eastern Ohio incident; new or additional governmental regulation and/or operational changes resulting from or related to the Eastern Ohio incident; and a cybersecurity incident or other disruption to our technology infrastructure. This list of important factors is not intended to be exhaustive. These and other important factors, including those discussed under “Risk Factors” in Norfolk Southern’s Annual Report on Form 10-K for the year ended December 31, 2025, as filed with the SEC on February 9, 2026 (available at https://www.sec.gov/ix?doc=/Archives/edgar/data/0000702165/000162828026006268/nsc-20251231.htm) and Norfolk Southern’s subsequent filings with the SEC, Union Pacific’s most recent Annual Report on Form 10-K for the year ended December 31, 2025, as filed with the SEC on February 6, 2026 (available at https://www.sec.gov/ix?doc=/Archives/edgar/data/100885/000010088526000037/unp-20251231.htm) and Union Pacific’s subsequent filings with the SEC, may cause actual results, performance, or achievements to differ materially from those expressed or implied by these forward-looking statements. References to Union Pacific’s and Norfolk Southern’s website are provided for convenience and, therefore, information on or available through the website is not, and should not be deemed to be, incorporated by reference herein. The forward-looking statements herein are made only as of the date they were first issued, and unless otherwise required by applicable securities laws, Union Pacific and Norfolk Southern disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as may be required by applicable law or regulation. View source version on businesswire.com: https://www.businesswire.com/news/home/20260528154189/en/ Union Pacific Media Inquiries:
media@up.com Union Pacific Investor Inquiries:
Diana Prauner
402-544-4227 or dprauner@up.com Norfolk Southern Media Inquiries:
media.relations@nscorp.com Norfolk Southern Investor Inquiries:
Investor Relations Original: Creating America’s First Transcontinental Railroad: STB Accepts Union Pacific-Norfolk Southern Merger Application
US Market News
2月前
Creating America’s First Transcontinental Railroad: Union Pacific and Norfolk Southern’s Amended STB Merger Application Estimates Shippers Will Save $3.5 Billion AnnuallyApril 30, 2026 7:45 AM
Business Wire
Union Pacific Corporation (NYSE: UNP) and Norfolk Southern Corporation (NYSE: NSC) today submitted an amended merger application to the Surface Transportation Board (STB) seeking approval to create America’s first transcontinental railroad. Additional analysis reinforces that the combination will drive growth, enable substantial cost savings for shippers and strengthen the U.S. supply chain.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260430887534/en/
“After completing the additional work requested by the STB, the facts remain clear: This merger enhances competition and delivers real public benefits that make America’s supply chain stronger,” said Union Pacific CEO Jim Vena. “Our analysis uses complete systemwide traffic data provided by all Class I railroads to identify even more opportunities for our combined railroad to grow and compete.”
The analysis in the updated application is the first in rail merger history to use 100% actual traffic data provided by all six North American Class I railroads, rather than the sample data available from the STB – making it the most thorough assessment of market and operational impacts ever.
“This merger is fundamentally about growth,” said Norfolk Southern President and CEO Mark George. “Shippers have been clear about what they value, and the data backs it up. When single-line rail service is available, they choose it. Our combined network will deliver seamless freight moves within and across the Mississippi watershed markets with one Class I railroad accountable from origin to destination.”
Cost Savings for Shippers and Consumers
The deeper analysis confirms the merger will make rail significantly more competitive with long-haul trucking, taking approximately 2.1 million trucks off the road. Shifting freight from higher-cost trucks to low-cost rail will save shippers an estimated $3.5 billion annually – savings expected to flow through to consumer prices, making American goods more affordable. Shippers also will save on inventory and equipment costs with the combined railroad’s faster, more reliable service.
Positive Impact on Competition
The Union Pacific-Norfolk Southern combination is an end-to-end merger connecting the eastern and western United States with virtually no overlap. The goal: Growth through new routes and improved service that removes interchange handoffs that can add 24-48 hours and cost to the supply chain.
To meet the additional growth opportunities identified using the more robust Class I traffic data, the amended application increases the anticipated number of new premium intermodal lanes operating seven days a week from six to seven, with a new lane connecting Northern California and the Southeast. The analysis also confirms the combined company will have sufficient equipment and infrastructure capacity available to support the projected growth.
Additionally, the amended application confirms the merger will preserve customer access to competitive railroad alternatives and will have no meaningful impact on geographic competition or on the availability of independent routes.
“Our projections show the combined railroad will move about the same number of ton-miles as our Western competitor does today, underscoring how this merger will enhance competition in the marketplace,” Vena said. “That competition will spur innovation and help lower costs – benefits that shippers and American consumers will feel directly.”
More High-Paying Union Jobs
Additional growth also will create more high-paying union jobs. The amended application estimates the combined company will need 1,200 net new union jobs by the third year of the merger to handle new business, up from 900 in the original application. This growth is in addition to the unprecedented jobs-for-life guarantee – every union employee with a job at the time of the merger will continue to have one.
Projected Market Shares
As requested by the STB, the amended application includes more detailed market share projections that account for the growth the combined railroad expects to achieve as shippers shift traffic from trucks and other railroads to its faster, more reliable coast-to-coast service.
“The analysis confirms what we’ve been saying: Our merger will create strong growth by providing customers a superior service product, which in itself creates competition in the railroad industry,” George said. “The announcement of our merger alone has caused other railroads to respond with new offerings.”
Additional Transparency of Merger Agreement
In response to the STB’s request for additional documents related to Union Pacific and Norfolk Southern’s merger agreement, the amended application goes further than required by entering these documents into the public record.
The Terminal Railroad Association of St. Louis
The Terminal Railroad Association of St. Louis (TRRA) is a Class III railroad that operates 170 miles of track, including two bridges over the Mississippi River. Union Pacific owns 42.84% of TRRA and Norfolk Southern owns 14.29%. The railroads initially requested authority to take a temporary controlling interest in TRRA to allow them time, if needed, to sell enough shares to prevent Union Pacific from retaining a controlling interest post-merger. In the amended application, the railroads commit to divest or otherwise relinquish control of TRRA as a condition to the merger’s close, so there will be no control of TRRA.
Superior Data and Analysis Confirm Merger Benefits
“We appreciate the STB’s feedback and look forward to continuing to work with them through the process,” Vena said. “We are confident our updated application meets their guidance and presents an even stronger case for why America needs a seamless coast-to-coast railroad to reinvigorate the rail industry.”
The transaction remains subject to STB review and approval within its statutory timeline and will be subject to continuing STB oversight post-closure. The Union Pacific and Norfolk Southern application to the STB is available for public review on its website. The statements contained herein are qualified in their entirety by reference to the full application to the STB.
The two companies expect the transaction to be completed in the first half of 2027. For more information, visit AmericasGreatConnection.com.
About Union Pacific
Union Pacific (NYSE: UNP) delivers the goods families and businesses use every day with safe, reliable, and efficient service. Operating in 23 western states, the company connects its customers and communities to the global economy. Trains are the most environmentally responsible way to move freight, helping Union Pacific protect future generations. More information about Union Pacific is available at www.up.com.
About Norfolk Southern
Since 1827, Norfolk Southern Corporation (NYSE: NSC) and its predecessor companies have safely moved the goods and materials that drive the U.S. economy. Today, it operates a 22-state freight transportation network. Committed to furthering sustainability, Norfolk Southern helps its customers avoid approximately 15 million tons of yearly carbon emissions by shipping via rail. Its dedicated team members deliver approximately 7 million carloads annually, from agriculture to consumer goods. Norfolk Southern also has the most extensive intermodal network in the eastern U.S. It serves a majority of the country's population and manufacturing base, with connections to every major container port on the Atlantic coast as well as major ports across the Gulf Coast and Great Lakes. Learn more by visiting www.NorfolkSouthern.com.
Cautionary Note Regarding Forward-Looking Statements
Certain statements in this communication are “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, as amended. These statements relate to future events or future financial performance and involve known and unknown risks, uncertainties, and other factors that may cause Union Pacific’s, Norfolk Southern’s or the combined company’s actual results, levels of activity, performance, or achievements or those of the railroad industry to be materially different from those expressed or implied by any forward-looking statements. In some cases, forward-looking statements may be identified by the use of words like “may,” “will,” “could,” “would,” “should,” “expect,” “anticipate,” “believe,” “project,” “estimate,” “intend,” “plan,” “pro forma,” or any variations or other comparable terminology.
While Union Pacific and Norfolk Southern have based these forward-looking statements on those expectations, assumptions, estimates, beliefs and projections they view as 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 Union Pacific’s, Norfolk Southern’s or the combined company’s control, including but not limited to, in addition to factors disclosed in Union Pacific’s and Norfolk Southern’s respective filings with the U.S. Securities and Exchange Commission (the “SEC”): the occurrence of any event, change or other circumstance that could give rise to the right of one or both of the parties to terminate the definitive merger agreement between Union Pacific and Norfolk Southern providing for the acquisition of Norfolk Southern by Union Pacific (the “Transaction”); the risk that potential legal proceedings may be instituted against Union Pacific or Norfolk Southern and result in significant costs of defense, indemnification or liability; the possibility that the Transaction does not close when expected or at all because required Surface Transportation Board or other approvals and other conditions to closing are not received or satisfied on a timely basis or at all (and the risk that such approvals may result in the imposition of conditions that could adversely affect the combined company or the expected benefits of the Transaction); the risk that the combined company will not realize expected benefits, cost savings, accretion, synergies and/or growth from the Transaction, or that such benefits may take longer to realize or be more costly to achieve than expected, including as a result of changes in, or problems arising from, general economic and market conditions, tariffs, interest and exchange rates, monetary policy, laws and regulations and their enforcement, and the degree of competition in the geographic and business areas in which Union Pacific and Norfolk Southern operate; disruption to the parties’ businesses as a result of the announcement and pendency of the Transaction; the costs associated with the anticipated length of time of the pendency of the Transaction, including the restrictions contained in the definitive merger agreement on the ability of Union Pacific and Norfolk Southern, respectively, to operate their respective businesses outside the ordinary course during the pendency of the Transaction; the diversion of Union Pacific’s and Norfolk Southern’s management’s attention and time from ongoing business operations and opportunities on merger-related matters; the risk that the integration of each party’s operations will be materially delayed or will be more costly or difficult than expected or that the parties are otherwise unable to successfully integrate each party’s businesses into the other’s businesses; the possibility that the Transaction may be more expensive to complete than anticipated, including as a result of unexpected factors or events; reputational risk and potential adverse reactions of Union Pacific’s or Norfolk Southern’s customers, suppliers, employees, labor unions or other business partners, including those resulting from the announcement or completion of the Transaction; the dilution caused by Union Pacific’s issuance of additional shares of its common stock in connection with the consummation of the Transaction; the risk of a downgrade of the credit rating of Union Pacific’s indebtedness, which could give rise to an obligation to redeem existing indebtedness; a material adverse change in the financial condition of Union Pacific, Norfolk Southern or the combined company; changes in domestic or international economic, political or business conditions, including those impacting the transportation industry (including customers, employees and supply chains); Union Pacific’s, Norfolk Southern’s and the combined company’s ability to successfully implement its respective operational, productivity, and strategic initiatives; a significant adverse event on Union Pacific’s or Norfolk Southern’s network, including, but not limited to, a mainline accident, discharge of hazardous materials, or climate-related or other network outage; the outcome of claims, litigation, governmental proceedings and investigations involving Union Pacific or Norfolk Southern, including, in the case of Norfolk Southern, those with respect to the Eastern Ohio incident; the nature and extent of Norfolk Southern’s environmental remediation obligations with respect to the Eastern Ohio incident; new or additional governmental regulation and/or operational changes resulting from or related to the Eastern Ohio incident; and a cybersecurity incident or other disruption to our technology infrastructure.
This list of important factors is not intended to be exhaustive. These and other important factors, including those discussed under “Risk Factors” in Norfolk Southern’s Annual Report on Form 10-K for the year ended December 31, 2025, as filed with the SEC on February 9, 2026 (available at https://www.sec.gov/ix?doc=/Archives/edgar/data/0000702165/000162828026006268/nsc-20251231.htm) and Norfolk Southern’s subsequent filings with the SEC, Union Pacific’s most recent Annual Report on Form 10-K for the year ended December 31, 2025, as filed with the SEC on February 6, 2026 (available at https://www.sec.gov/ix?doc=/Archives/edgar/data/100885/000010088526000037/unp-20251231.htm) and Union Pacific’s subsequent filings with the SEC, may cause actual results, performance, or achievements to differ materially from those expressed or implied by these forward-looking statements. References to Union Pacific’s and Norfolk Southern’s website are provided for convenience and, therefore, information on or available through the website is not, and should not be deemed to be, incorporated by reference herein. The forward-looking statements herein are made only as of the date they were first issued, and unless otherwise required by applicable securities laws, Union Pacific and Norfolk Southern disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as may be required by applicable law or regulation.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260430887534/en/
Union Pacific Media Inquiries:
media@up.com
Union Pacific Investor Inquiries:
Diana Prauner
402-544-4227 or dprauner@up.com
Norfolk Southern Media Inquiries:
media.relations@nscorp.com
Norfolk Southern Investor Inquiries:
Investor Relations
Original: Creating America’s First Transcontinental Railroad: Union Pacific and Norfolk Southern’s Amended STB Merger Application Estimates Shippers Will Save $3.5 Billion Annually
iHub News
2月前
Norfolk Southern Tops Q1 Earnings Estimates as Revenue Holds SteadyApril 24, 2026 10:11 AM
IH Market News
Shares of Norfolk Southern Corporation (NYSE:NSC) edged slightly lower in premarket trading on Friday after the company reported first-quarter results that beat earnings expectations while revenue came in in line with forecasts.
Earnings Beat, Revenue Flat
The railroad operator posted adjusted earnings per share of $2.65, exceeding analyst estimates of $2.51 by $0.14.Revenue totalled $3.0 billion, matching expectations and remaining unchanged year-on-year, despite a 1% decline in shipment volumes.The stock slipped around 0.29% following the announcement.
Margins Under Pressure
The company reported an adjusted operating ratio of 68.7%, an increase of 80 basis points from 67.9% in the first quarter of 2025, indicating some pressure on operating efficiency.On a GAAP basis, diluted earnings per share were $2.43, while the operating ratio stood at 70.7%. Adjusted figures exclude merger-related costs and the impact of the Eastern Ohio incident.
Operating Performance Declines
Adjusted income from railway operations came in at $939 million, down $22 million, or 2%, compared with the same period last year.On a GAAP basis, operating income was $877 million, representing a decline of $269 million, or 23%, year-on-year.
Management Commentary
“In the first quarter, our team stayed focused on what we could control, operating with discipline amid volatile volumes, severe winter weather, and a rapidly shifting macroeconomic environment including the dramatic rise in fuel prices in March,” said Mark George. “Despite these challenges, our employees safely delivered a solid service product, managed costs effectively, and earned the continued trust of our customers.”
Outlook Improves Toward Quarter-End
The company highlighted that it maintained operational discipline despite difficult conditions, including fluctuating volumes, harsh winter weather and higher fuel costs.Management added that performance improved toward the end of the quarter, allowing the company to exit the period with stronger momentum.Norfolk Southern stock price
Original: Norfolk Southern Tops Q1 Earnings Estimates as Revenue Holds Steady
US Market News
2月前
Norfolk Southern reports first quarter 2026 resultsApril 24, 2026 8:00 AM
PR Newswire (US)
Results reflect disciplined execution on safety, service, and cost control through a dynamic first quarterATLANTA, April 24, 2026 /PRNewswire/ -- Norfolk Southern Corporation (NYSE: NSC) announced Friday its first quarter 2026 financial results. In the quarter, revenue was $3.0 billion, income from railway operations was $877 million, operating ratio was 70.7%, and diluted earnings per share were $2.43.
Adjusting the results to exclude merger-related expenses and the effects of the Eastern Ohio incident, first quarter income from railway operations was $939 million, the operating ratio was 68.7%, and diluted earnings per share were $2.65."In the first quarter, our team stayed focused on what we could control, operating with discipline amid volatile volumes, severe winter weather, and a rapidly shifting macroeconomic environment including the dramatic rise in fuel prices in March," said Mark George, president and chief executive officer of Norfolk Southern. "Despite these challenges, our employees safely delivered a solid service product, managed costs effectively, and earned the continued trust of our customers. As conditions improved, we captured momentum exiting the quarter, reinforcing the strength of our operating foundation and the dedication of the entire Norfolk Southern team."First Quarter Summary Railway operating revenues of $3.0 billion, up $5 million, or flat compared to the first quarter 2025, on a volume decline of 1% year-over-year.Income from railway operations was $877 million, a decrease of $269 million, or 23%, compared to first quarter 2025. Adjusting for the effects of the Eastern Ohio incident in both years and merger-related expenses in 2026; income from railway operations was $939 million, down $22 million, or 2%, compared to adjusted first quarter 2025.Operating ratio in the quarter was 70.7% compared to 61.7% in first quarter 2025.Adjusting for the effects of the Eastern Ohio incident in both years and merger-related expenses in 2026, the operating ratio for first quarter 2026 was 68.7%, 80 basis points higher than first quarter 2025.Diluted earnings per share were $2.43, down $0.88, or 27%, compared to first quarter 2025.Adjusting for the effects of the Eastern Ohio incident in both years and merger-related expenses in 2026, diluted earnings per share were $2.65, down $0.04, or 1%, compared to first quarter 2025.About Norfolk Southern
Since 1827, Norfolk Southern Corporation (NYSE: NSC) and its predecessor companies have safely moved the goods and materials that drive the U.S. economy. Today, it operates a 22-state freight transportation network. Committed to furthering sustainability, Norfolk Southern helps its customers avoid approximately 15 million tons of yearly carbon emissions by shipping via rail. Its dedicated team members deliver approximately 7 million carloads annually, from agriculture to consumer goods. Norfolk Southern also has the most extensive intermodal network in the eastern U.S. It serves a majority of the country's population and manufacturing base, with connections to every major container port on the Atlantic coast as well as major ports across the Gulf Coast and Great Lakes. Learn more by visiting www.NorfolkSouthern.com.Cautionary Statement on Forward-Looking Statements
Certain statements in this press release are "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, as amended. 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. In some cases, forward-looking statements may be identified by the use of words like "may," "will," "could," "would," "should," "expect," "anticipate," "believe," "project," or other comparable terminology. While the Company has based these forward-looking statements on those expectations, assumptions, estimates, beliefs, and projections it views as 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 the Company's control, including but not limited to: (i) changes in domestic or international economic, political or business conditions, including those impacting the transportation industry; (ii) the Company's ability to successfully implement its operational, productivity, and strategic initiatives; (iii) a significant adverse event on our network, including but not limited to a mainline accident, discharge of hazardous material, or climate-related or other network outage; (iv) the outcome of claims, litigation, governmental proceedings, and investigations involving the Company, including those with respect to the Eastern Ohio incident; (v) new or additional governmental regulation and/or operational changes resulting from or related to the Eastern Ohio incident; (vi) a significant cybersecurity incident or other disruption to our technology infrastructure; and (vii) those pertaining to the Merger. 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, 2025, filed with the SEC on February 9, 2026, may cause actual results, performance, or achievements to differ materially from those expressed or implied by these forward-looking statements. The forward-looking statements herein are made only as of the date they were first issued, and unless otherwise required by applicable securities laws, the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.Non-GAAP Financial Measures
Information included within this press release contains non-GAAP financial measures, including adjusted income from railway operations, adjusted operating ratio, and adjusted diluted earnings per share. 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). Our first quarter 2026 non-GAAP financial results exclude merger-related expenses and both the first quarters of 2026 and 2025 exclude the overall impact on operating expenses resulting from the Eastern Ohio Incident (the Incident). The following tables adjust our first quarter 2026 and first quarter 2025 GAAP financial results to exclude the effects of those items. The income tax effects of the non-GAAP adjustments were calculated based on the applicable tax rates to which the non-GAAP adjustments related. We use these non-GAAP financial measures internally and believe this information provides useful supplemental information to investors to facilitate making period-to-period comparisons by excluding these costs. While we believe that these non-GAAP financial measures are useful in evaluating our 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. In addition, these non-GAAP financial measures may not be the same as similar measures presented by other companies. Information about the adjustments that are not currently available to us could have a potentially unpredictable and significant impact on future GAAP results. Further information about the Company's non-GAAP measures are available on our website at www.norfolksouthern.com on the Investors page under Events and Presentations.
($ in millions, except per share amounts)
First
Quarter 2026
Income from railway operations$877
Merger-related expenses and effect of the Incident
62
Adjusted income from railway operations$939
Operating ratio
70.7 %
Merger-related expenses and effect of the Incident
(2.0 %)
Adjusted operating ratio
68.7 %
Diluted earnings per share$2.43
Merger-related expenses and effect of the Incident
0.22
Adjusted diluted earnings per share$2.65
($ in millions, except per share amounts)
First
Quarter 2025
Income from railway operations$1,146 Effect of the Incident
(185)Adjusted income from railway operations $961
Operating ratio
61.7 % Effect of the Incident
6.2 %Adjusted operating ratio
67.9 %
Diluted earnings per share$3.31 Effect of the Incident
(0.62)Adjusted diluted earnings per share$2.69
View original content to download multimedia:https://www.prnewswire.com/news-releases/norfolk-southern-reports-first-quarter-2026-results-302752391.htmlSOURCE Norfolk Southern Corporation
Original: Norfolk Southern reports first quarter 2026 results
US Market News
3月前
Norfolk Southern Advances Growth Strategy With New Short Line PartnershipApril 1, 2026 1:18 PM
PR Newswire (US)
Deal expands freight access, capacity, transload connectivity in metro AtlantaATLANTA, April 1, 2026 /PRNewswire/ -- Norfolk Southern Corp. (NYSE: NSC) and Jaguar Transport Holdings, LLC are partnering to expand freight capacity, improve local service, and unlock new growth opportunities for direct rail-served and transload customers in northeast metro Atlanta. Under the innovative deal structure, Jaguar will handle local switching, operate Norfolk Southern's Doraville transload terminal, and invest in targeted infrastructure upgrades to support new freight volumes, providing faster, dedicated first- and final-mile connections for customers.
"This deal is completely focused on freight growth, delivering increased capacity, and providing expanded local service in the important metro Atlanta market," said Stefan Loeb, Norfolk Southern vice president of business development and first- and final-mile markets. "We value Jaguar's experience in short line and transload operations as well as its proven track record of success. This opportunity continues to demonstrate that short lines and transloaders are a crucial part of Norfolk Southern's growth strategy."Unlocking capacity through local service and transload integrationUnder the arrangement, Jaguar will deliver dedicated rail and transload services that strengthen first- and final-mile connectivity. Located near I-285 and I-85, the Doraville industrial rail corridor serves a cluster of businesses in northeast Atlanta through local switching and transload access. It provides access for both rail-adjacent customers and regional shippers that depend on truck-to-rail connectivity and frequent, reliable local service.The collaboration is expected to generate significant growth at Norfolk Southern's Doraville transload facility and among directly served customers by:Supporting freight growthEnabling new industrial and warehouse development in the corridorIncreasing switching opportunities, transloading capacity, and interchange fluidityPartnering with a proven growth operatorJaguar will make capital improvements to expand yard capacity and support future growth at Doraville. The company operates multiple short line railroads and transload facilities across the U.S. and has a proven track record of generating strong volume growth after assuming local operations. "We're grateful for Norfolk Southern's trust as we assume operations in Doraville," said Tim Enayati, senior vice president of commercial development at Jaguar Transport. "Jaguar is committed to delivering exceptional service to our customers and being a reliable growth partner for Norfolk Southern in Atlanta." "From day one, our focus will be on safe and reliable service," said Dan Price, senior vice president of operations at Jaguar Transport. "We know how vital this corridor is to these customers, and we will bring discipline, responsiveness, and the focus it takes to earn their confidence and support future growth."Building for the future networkThe Doraville agreement reflects Norfolk Southern's broader short line strategy: using targeted partnerships to extend network reach, improve local demand-driven service when required, and unlock new growth. It also supports Norfolk Southern's long-term vision for a proposed end-to-end combination with Union Pacific. Jaguar is already a short line partner of Union Pacific, supporting eventual operational alignment and a scalable model for local-market growth across a transcontinental network.About Norfolk Southern
Since 1827, Norfolk Southern Corporation (NYSE: NSC) and its predecessor companies have safely moved the goods and materials that drive the U.S. economy. Today, it operates a customer-centric and operations-driven freight transportation network. Committed to furthering sustainability, Norfolk Southern helps its customers avoid approximately 15 million tons of yearly carbon emissions by shipping via rail. Its dedicated team members deliver more than 7 million carloads annually, from agriculture to consumer goods, and Norfolk Southern originates more automotive traffic than any other Class I Railroad. Norfolk Southern also has the most extensive intermodal network in the eastern U.S. It serves a majority of the country's population and manufacturing base, with connections to every major container port on the Atlantic coast as well as major ports across the Gulf Coast and Great Lakes. Learn more by visiting NorfolkSouthern.com. About Jaguar Transport Holdings
Jaguar is a transportation and logistics company headquartered in Joplin, MO. Since 2018, Jaguar has focused on safety, team culture, service to customers, and innovation to help drive its growth. Jaguar operates thirteen short line railroads and multiple other rail served sites across the United States. For more information, please visit www.jag-transport.com.
View original content to download multimedia:https://www.prnewswire.com/news-releases/norfolk-southern-advances-growth-strategy-with-new-short-line-partnership-302731696.htmlSOURCE Norfolk Southern Corporation
Original: Norfolk Southern Advances Growth Strategy With New Short Line Partnership
US Market News
5月前
Norfolk Southern rail fuels more than $7.7B in industrial development activity in 2025February 2, 2026 10:36 AM
PR Newswire (US)
More than 60 projects helped drive business and job growth for local economiesATLANTA, Feb. 2, 2026 /PRNewswire/ -- Norfolk Southern Corporation (NYSE: NSC) customers advanced over 60 industrial development projects in 2025, representing $7.7 billion in industry investment for new or expanded rail–served facilities along Norfolk Southern and short line partner routes. This economic activity across states and industries was made possible by the reach of Norfolk Southern's strategic network footprint.
Industrial signals in 2025 were two speed: The U.S. Manufacturing PMI contracted through much of the year, reflecting softer new orders and manufacturing employment, yet factory output and industrial production showed late-year stabilization – and pockets of strength in durable goods – as capacity utilization improved from prior months.Even as U.S. manufacturing indicators showed mixed momentum in 2025, Norfolk Southern's pipeline continues to attract long–term private investment aligned to growth corridors and port gateways across the Southeast and Midwest. Norfolk Southern currently has over 500 U.S. manufacturing projects in the site selection phase, representing additional opportunities for growth supported by rail."Our customers' $7.7 billion pipeline underscores rail's foundational – and increasingly strategic – role in U.S. supply chains," said Ed Elkins, Norfolk Southern Executive Vice President and Chief Commercial Officer. "In 2026, we're focusing on creating turnkey sites and achieving ever-higher service standard so that customers benefit from a range of advantages that come with choosing a Norfolk Southern-served property."A Range of Industries Benefit from Rail AccessNorfolk Southern 2025 industrial development activity was strong across many sectors, including: metals, paper, aggregates, and automotive-related projects. Leading projects that achieved significant outcomes – for Norfolk Southern, our customers, and the respective communities – include support for Alabama's emerging biotech sector and a new automotive manufacturing facility in South Carolina. Over the last year, Norfolk Southern sharpened its portfolio of rail-served industrial sites. 15 of Norfolk Southern's sites received the independent Readiness Evaluation for Development and Investment (REDI Sites) designation, reflecting rigorous assessments by members of the Site Selectors Guild."These REDI designations make site selection faster and more predictable for companies that rely on rail," said Craig Hudson, Norfolk Southern GVP of Industrial Development. "Our development-ready sites are engineered for rail connectivity and logistical efficiency, which helps customers compress timelines and communities capture high-quality jobs and investment."Site selectors can search NSites, Norfolk Southern's optimized platform featuring more than 800 rail served properties and 340 transload facilities. This year, Norfolk Southern will be adding even more sites on behalf of its more than 270 short line partners.Norfolk Southern also advanced a disciplined real estate strategy in 2025 to unlock rail–backed customer growth across the network. Several of the company's land sales were directly tied to integrated freight opportunities — including intermodal expansion, port connectivity, and transload development — while other sales enabled reinvestment into higher–value sites at the heart of emerging industrial clusters."These strategic sales, paired with targeted land acquisitions, reflect a deliberate "trade–up" approach: leveraging non–core assets to secure opportunities that strengthen network capacity, attract rail–served industries, and position Norfolk Southern for sustained economic and industrial development," said Cliff Garner, Norfolk Southern AVP Real Estate and Facility Services.Those looking to grow their business with rail in 2026 can contact Norfolk Southern's Industrial Development and Real Estate teams and access a full suite of resources at NorfolkSouthern.com.A Coast-to-Coast Rail Network Can Push American Reindustrialization to the Next LevelIn 2025, Union Pacific and Norfolk Southern proposed merging to create a unified coast–to–coast freight rail network designed to accelerate U.S. reindustrialization and strengthen the nation's economic foundation for decades to come. It is pending review by the Surface Transportation Board (STB). By delivering faster, more reliable single–line service, the merged railroad will open new markets for American manufacturers, transform more than 10,000 existing lanes into seamless single–line routes, and unlock growth across underserved regions on both sides of the Mississippi River."A transcontinental railroad stands to accelerate economic growth across our country, creating new, faster shipping options for a range of businesses across sizes and sectors," added Elkins. "Together with Union Pacific, we would continue the long history of railroads growing America's economy, unlocking growth and greater connections to global freight gateways."The combined railroad would offer nearly 3,000 rail-served industrial development properties the ability to connect with more than 100 ports and 10 international gateways to Canada and Mexico – a top asset for global manufacturers looking to grow or expand their business with rail.Backed by $5.6 billion in combined 2025 capital investment and an additional $2.1 billion integration investment, the merger will align infrastructure where American industry is growing – supporting manufacturing clusters, high–density production corridors, and fast–emerging logistics hubs. Enhanced service reliability, fewer handoffs, reduced car touches, and significant reductions in transit time – like saving up to 252 miles and 20–95 hours in key lanes – will ensure that U.S. shippers gain a competitive advantage in both domestic and global markets.Learn more about this historic transaction at up-nstranscontinental.com.About Norfolk Southern
Since 1827, Norfolk Southern Corporation (NYSE: NSC) and its predecessor companies have moved the goods and materials that drive the U.S. economy. Today, it operates a 22-state freight network and helps customers avoid approximately 15 million tons of annual carbon emissions by shipping via rail. Norfolk Southern delivers about 7 million carloads annually, from agriculture to consumer goods, and operates the most extensive intermodal network in the eastern U.S., serving major population and manufacturing centers with connections to every major Atlantic Coast port, as well as key Gulf Coast and Great Lakes ports. Learn more at www.NorfolkSouthern.com.
View original content to download multimedia:https://www.prnewswire.com/news-releases/norfolk-southern-rail-fuels-more-than-7-7b-in-industrial-development-activity-in-2025--302676467.htmlSOURCE Norfolk Southern Corporation
Original: Norfolk Southern rail fuels more than $7.7B in industrial development activity in 2025
US Market News
5月前
Norfolk Southern-served site in Alabama earns platinum REDI designationJanuary 27, 2026 8:30 PM
PR Newswire (US)
ATLANTA, Jan. 27, 2026 /PRNewswire/ -- A Norfolk Southern (NYSE: NSC) rail-served industrial development site in the Shoals region of northwest Alabama has received a platinum designation from the national REDI Sites Program. This top designation, awarded only to select properties that meet rigorous readiness criteria, signals to global site selection professionals that the location is primed for a fast-track development timeline.
Located near Muscle Shoals and Florence, Alabama, the site has rail access, utility infrastructure, and a highly skilled regional workforce and pro-business ecosystem. It is positioned to support industrial and logistics growth in the Tennessee Valley. "Today's designation for our Shoals-area site underscores Norfolk Southern's continued commitment to developing quality, shovel-ready sites that rail shippers can trust to meet their evolving business needs," said Norfolk Southern Director Industrial Development MaryBeth Flournoy. "With its access to markets across the Southeast and Midwest, the Shoals site is positioned to attract companies looking to grow their business with rail.""The recognition reinforces the Shoals region's standing as an industrial growth market," said Ellen McNair, Secretary of the Alabama Department of Commerce. "We are proud to partner with Norfolk Southern and regional stakeholders to showcase this site's readiness for significant investment and job creation.""At the Shoals EDA, we are focused on advancing The Shoals region as a competitive and attractive destination for business and industry," said Kevin Jackson, Shoals EDA President. "Our sites and buildings are central to that strategy, and this designation further reinforces our efforts. We appreciate Norfolk Southern's partnership and its efforts to highlight the potential of this site." Regional Context & Growth:Alabama remains a priority market for Norfolk Southern's industrial development strategy, as evidenced by recent investments, expansions, and new customer connections in the state.The Shoals area, anchored by Muscle Shoals and Florence in Colbert and Lauderdale Counties, offers available industrial sites and speculative buildings that support heavy and advanced manufacturing growth.Norfolk Southern continues to invest in regional infrastructure, including enhancements to the 3B Corridor, which improves rail capacity between northern Alabama and key domestic and global markets via the Port of Mobile.To look through the Norfolk Southern portfolio of rail-served industrial development sites, please visit nsites.nscorp.com. Site selectors, consultants, and company representatives can also contact Norfolk Southern Industrial Development Manager Tyler Preast with inquiries about this site, tyler.preast@nscorp.com. For more information about the REDI Sites Program, please visit siteselectorsguild.comAbout Norfolk Southern
Since 1827, Norfolk Southern Corporation (NYSE: NSC) and its predecessor companies have moved the goods and materials that drive the U.S. economy. Today, it operates a 22-state freight network and helps customers avoid approximately 15 million tons of annual carbon emissions by shipping via rail. Norfolk Southern delivers about 7 million carloads annually, from agriculture to consumer goods, and operates the most extensive intermodal network in the eastern U.S., serving major population and manufacturing centers with connections to every major Atlantic Coast port, as well as key Gulf Coast and Great Lakes ports. Learn more at www.NorfolkSouthern.com.
View original content to download multimedia:https://www.prnewswire.com/news-releases/norfolk-southern-served-site-in-alabama-earns-platinum-redi-designation-302671607.htmlSOURCE Norfolk Southern Corporation
Original: Norfolk Southern-served site in Alabama earns platinum REDI designation
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