Thursday, May 10, 2012

Moorman “optimistic” on traffic prospects

Written by  Luther S. Miller, Senior Consulting Editor

Norfolk Southern CEO Wick Moorman told stockholders at the company's 30th annual meeting in Williamsburg, Va., Thursday that he is “confident, optimistic, and enthusiastic about our future business prospects.”

Describing records achieved in 2011 on revenue, operating income, net income, and earnings per share, he noted that the company set first-quarter records in those same categories in 2012.

“We will continue to position the company for sustained growth through strategic investments and hiring,” Moorman said. “Our transportation network is functioning well, we have a strong capital budget, and the right projects are under way to enhance our business franchises.”

Reflecting on Norfolk Southern’s 30th anniversary, Moorman said, “We boast a proud and strong lineage of predecessor companies that helped pave the way for our contemporary success.” To recognize that heritage, NS is painting 20 locomotives in the color schemes of selected predecessor roads.