While layoffs have occurred in nearly all facets of the railroad business, the biggest cuts have been from the conductor and maintenance ranks, according to detailed monthly data the seven major freight railroads provide the Surface Transportation Board. The railroad provided a detailed estimate of the cost of Feb. 3 derailment outside East Palestine, Ohio, Wednesday along with first-quarter earnings. As a result, actual outcomes and results may differ materially from those expressed in forward-looking statements. 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. 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. This greatly decreases chances for infection. 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. 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. NORFOLK SOUTHERN COVID-19 UPDATE: Based on the social distancing guidance from the Centers for Disease Control and Prevention and as a prudent precaution, Norfolk Southern is transitioning to remote working arrangements for employees whose job functions permit. Adjusting for the Eastern Ohio Incident, income from railway operations was $1.1 billion, up $13 million or 1% compared to first quarter 2022. 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. Federal Railroad Administration data shows that Norfolk Southern reported 12.95 train accidents per every million miles last year. 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. Railway Age reproduces the Oct. 20 NS memo, in full, below: Federal Vaccine Mandate Will Require Change in NS Policy. 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. Another key part of the efficiency push is running longer trains. It makes for very bad train handling. 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 Forward-looking statements Both Union Pacific and Norfolk Southern are offering employees $300 if they get the shots. 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. Felicia Hagler - via Google, In the middle of a big move and so far Jay Casey has been immensely helpful to us with all the details! He called it good productivity and said the company was accelerating this strategy heading into 2020. NS has now sued the International Association of Sheet Metal, Air, Rail, and Transportation Workers (SMART) and two other unions that represent its employees, according to Reuters. 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. Expenses jumped 32% to $2.4 billion, along with labor expenses tied to significant hiring over the past year and a new contract for employees. Since 1827, Norfolk Southern Corporation (NYSE: NSC) and its predecessor companies have safely moved the goods and materials that drive the U.S. economy. "We are making progress every day and I'm proud of our people. The Corporation has based these forward-looking statements on management's current expectations, assumptions, estimates, beliefs, and projections. But the details of how much insurance will actually cover will be worked out over time. Reconciliation of Non-GAAP Financial Measures Rail freight carloads were down 7.4percent this November versus the prior year, according to closely watched data from the Association of American Railroads. 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. As the call for sustainability grows, impacts will be assessed by every industry. 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 Rail Group News offers news and analysis from Railway Age, IRJ and RT&S by email. Adjusting for the effects of the incident charge, first quarter results includedadjusted income from railway operations of$1.1 billion and adjusted diluted earnings per share of $3.32 improvements of 1% and 13%, respectively, compared to first quarter 2022. 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. Volume was flat overall. Will your logo be here as well?. Use without authority or in excess of authority constitutes a violation of company policy and may constitute a crime. 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. 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. Management employees will be paid for 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. 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. BNSF has a long-standing and well-settled past practice of unilaterally changing its rules and policies governing position requirements, medical standards, and safety in response to lawful federal government directives, the railroad said in its lawsuit. But even if Trumps trade war ebbs, many of the $70,000-a-year conductor and maintenance jobs are unlikely to return. What they [customers] are getting in terms of service quality today is off the chart, James M. Foote, president of CSX told investors at a November investment conference in Tennessee. When you go to work now, its like going into a funeral home, Hollandsworth said. 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. Our approach has worked. Everyone took really good care of our things. 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. The Department of Justice today announced criminal charges against 18 defendants in nine federal districts across the United States for their alleged participation The effort required innovation and collaboration, he noted, and ranged from equipping departments to work remotely, including most of Customer Service, to purchasing hand sanitizer from local distilleries in the midst of a nationwide shortage. This fog. Workers say they are concerned that radio signals sometimes go down between the front and back of long trains and that Americans dont like waiting for long trains to pass. 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. Please refer to these SEC filings for a full discussion of those risks and uncertainties we view as most important. Then Norfolk Southern eliminated that role in September. Precision Scheduled Railroading (PSR)s aggressive approach to staff reduction often focused on groups or crafts with limited innovation. NS follows Union Pacific (UP) in taking action. Yet the National Transportation Safety Board and Federal Railroad Administration are investigating the railroads practices to see where they can be improved. 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. We just had our first child in July.. That derailment, andotherssince then, sparked anationwide focuson railroad safety. Our people rose to the challenge. Norfolk Southern and other major freight railroads have announced new safety measures, including installing more than 1,000 more trackside detectors. 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 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. 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. In some cases, forward-looking statements may be identified by the use of words like may, will, could, would, should, expect, plan, anticipate, intend, believe, estimate, project, consider, predict, potential, feel, or other comparable terminology. The volume decline is similar to what occurred at the end of 2015, although the job losses are worse. We dont want anyone to leave the company because of this new mandate. You can apply at the same place you share your vaccination status by choosing Personal Information on SuccessFactors. Hello, you need to have JavaScript enabled to view this website. John Victor - via Google, Very nice owner, extremely helpful and understanding OMAHA, Neb. Youre not getting a callback, said Earick, 32. "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. BNSF filed a But the details of how much insurance will actually cover will be worked out over time. Our training requirements could not be sustained due to COVID restrictions, says Michael Urena, Manager, Transportation Training, Training and Development, CN. Now retired, he says although carrying more cargo per train may increase the companys profits, there is a drawback. 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. 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). Service Alert : Service Update : Read More. Neither will the 91 city employees currently on furlough due to facility closures related to COVID-19. BNSF Railway has gone to court to determine whether it has the authority to require all its employees to get vaccinated against the coronavirus. Leaders of the SMART-TD union and the Brotherhood of Locomotive Engineers and Trainmen have said they generally support workers getting vaccinated, but they don't think the railroads should require it without negotiating first. Its a huge issue. 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. For example, eliminating inefficient train miles by eliminating stops, closing terminals and other actions has helped reduce headcount significantly, but this means our lean, mean train and engine workforce team are more valuable than ever. The White House claimed not. Norfolk Southern saw a 6percent volume decline, but crew costs were down by 13percent, said Alan Shaw, the companys chief marketing officer. Norfolk Southerns first quarter profit fell 34% to $466 million, or $2.04 per share, because of the derailment costs. Now, after PSR, railroads are running more trains with mixed goods and on a set schedule that leaves no matter what. Not only is NS in violation of the law, it has explicitly spurned our demands that these matters be bargained. Fact-checking Trumps reaction to Bidens reelection announcement. 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. 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. You can do this by updating your Personal Information on SuccessFactors. 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. 1. 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. The gains were better than the overall market. The mandate stems from an Executive Order and associated guidance mandating that federal contractors require vaccinations for all employees. Copyright 2023 The Associated Press. Norfolk Southern says the case presents a minor dispute because its bargaining agreements do not bar the railroad from adopting a vaccine mandate.. In some cases, forward-looking statements may be identified by the use of words like "may," "will," "could," "would," "should," "expect," "plan," "anticipate," "intend," "believe," "estimate," "project," "consider," "predict," "potential," "feel," or other comparable terminology. 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. If you arent fully vaccinated by November 8, you should still share your status and update your record later. In addition, these non-GAAP financial measures may not be the same as similar measures presented by other companies. Norfolk Southern Corporation (NYSE: NSC) announced Wednesday its first quarter 2023 financial results. Dan Bostek,Director of Operations Practices and Special Projects at Norfolk Southern, says, The use of remote simulation monitoring and training was a novel idea to many in the rail industry in 2020. Multiple rail executives took the stage at the Stephens Nashville Investment Conference that month to stress that while rail volumes were down, employee head count and other costs were down even more, ensuring the companies remained highly profitable. Moving forward, Norfolk southern will be known for safe operations, Shaw said. "Norfolk Southern has a history of successfully managing through business cycles and challenging economic environments," Squires said. At its worst, each crew member gets a paper copy (often several pages) of the train consist and other instructions. Wall Street has applauded the changes, signaling this could be a model for other industries that encounter rough times. This isnt a bad thing, but its a necessary consideration. I would use them again if needed. 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. We have based these forward- looking statements on our current expectations, assumptions, estimates, beliefs, and projections. 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. 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. There have also been periods such as 2015-16 when manufacturing, trucking and rail suffer, but the rest of the economy keeps growing. BNSF railroad filed a lawsuit Sunday against its major unions over its mandate. Here are five takeaways from this past year, around what to expect and potential ways to alleviate the impact of each. Your efforts to keep the trains rolling through this pandemic have been nothing short of heroic. None, the locomotive is very small environment and no changes were made to The railroad will also have to reimburse the Environmental Protection Agency for its oversight of the cleanup. 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. The process was smooth and easy. Norfolk Southern estimates Ohio derailment will cost $387M, New treatment for newborns with opioid withdrawal shows promise, study says, Manhunt continues for man accused of gunning down neighbors, Feds: Hospitals that denied emergency abortion broke the law, House Speaker McCarthy to address Israels Knesset. What are the five most expensive homes that sold in Tahoe West Shore in the past two weeks? Can Floridas gay teachers show photos? These statements relate to future events or future performance of Norfolk Southern Corporation's (NYSE:NSC) ("Norfolk Southern," "NS" or the "Corporation"). 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. 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. Weve encouraged employees to follow guidance from public health experts regarding vaccination, but we havent mandated vaccination as some companies have done. Review Norfolk Southerns operating reports and the terms used to report performance in one convenient location. Fully automated freight trains began running in Australia about a year ago, a possible precursor of whats to come. 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. A Union Pacific spokeswoman said the average train length is about 1.5miles. All rights reserved. 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. The income tax effects of this non-GAAP adjustment were calculated based on the applicable tax rates to which the non-GAAP adjustment related. Thank you for all you do to serve our customers and communities.. Prior to Covid, WebThis is the SAME password used for RIT, Webmail and Windows. Learn more about the NS Green Financing Framework. Theyve gone from a mile, mile and a quarter, to two to three miles long, said Scott Wilcox. Freight declines have typically foreshadowed trouble for the broader economy because theyre a barometer of how much stuff is heading to market. 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. Revenue grew 7% to $3.13 billion, in line with expectations, as it increased rates for most of the cargo it delivered. Diluted earnings per share were $2.04 in the first quarter 2023, a decline of 30% compared to first quarter 2022. 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. 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.. ATLANTA, April 26, 2023 / PRNewswire / -- Norfolk Southern Corporation (NYSE: NSC) announced Wednesday its first quarter 2023 financial results. 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. And by practicing challenging or emergency scenarios regularly, overall safety and productivity correspondingly increase. That derailment, andotherssince then, sparked anationwide focuson railroad safety. 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.
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