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Rail News: Rail Industry Trends

Two Class Is tout 2010 accomplishments, cite 2011 goals in annual reports


A continued growing market for its transportation products will help Norfolk Southern Corp. achieve volume growth in 2011, said Chairman, President and Chief Executive Officer Wick Moorman in NS’ recently released annual report for 2010.

In a message to stockholders, Moorman notes that 2010 was "a very strong year,” aided by the continuing recovery and internal initiatives.

“We profitably grew the business, invested in the franchise, generated free cash flow and produced attractive returns for our shareholders,” he said.

Volume expectations for 2011 and beyond are supported by corridor initiatives that provide increased rail capacity to accommodate growth, while reaping safety and environmental benefits, said Moorman.
NS distributes about 175,000 copies of its annual report to stockholders, the financial community, media and libraries.

Meanwhile, CSX Corp. also released its 2010 annual report, which shows the Class I achieved its best-ever year in safety, operating income, operating ratio and earnings per share. The report also states that CSX invested $8.3 billion in infrastructure improvements from 2006 to 2010, and is budgeting $2 billion for similar improvements in 2011.

"CSX employees are performing extremely well as the economy continues to recover, just as they did during the worst of the recession," said CSX Chairman, President and CEO Michael Ward in a letter to shareholders. "Together we are embarking on something truly special — creating a new chapter in a storied industry while generating substantial economic benefits for customers, the nation and our shareholders."

Contact Progressive Railroading editorial staff.

More News from 3/24/2011