NS CEO Squires Cites Improving Performance

Norfolk Southern is touting its improving performance through a “successful execution” of the railroad’s five-year strategic plan.

NS President and CEO James Squires said at the company’s annual meeting this week that 2016 was the first full year of the company’s strategic plan to operate a faster, lower-cost and more profitable railroad.

He said NS achieved an “all-time best” operating ratio of 68.9 percent, productivity savings of $250 million, near record levels of network service performance and record locomotive fuel efficiency.

“Through successful execution of our plan, we achieved our key first-year financial and operational targets and we are well on pace to achieve our 2020 performance goals,” Squires said in a statement.

During the first quarter of 2017, Squires said, NS set records in operating ratio, operations income and earnings per share (EPS).

Among the company’s 2020 goals are annual expense savings of more than $650 million, double-digit percentage compound annual growth rate in earnings per share and an operating ratio below 65 percent.

“We are driving growth by providing superior service that optimizes pricing and increases volume and top-line revenue,” Squires said. “We are relentlessly focused on meeting the unique needs of our customers – and we are measuring service excellence as they define it.”

Squires said that in the longer term service will be NS’ competitive differentiator and will propel shareholder value.

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