At its Investor and Financial Analyst Conference earlier this month, Norfolk Southern representatives discussed, among other subjects, how the company is “reimagining itself.”
The process, which began just over three years ago and will continue over the next three years, has already yielded results, as, according to NS Chairman, President and CEO James A. Squires, the company has become “more profitable and created a lot of shareholder value in the process.”
“We’re pleased with our accomplishments and how far we’ve come,” Squires added. “And we can do more by focusing on our successes, and there have been many, and also on how we can do better. It helps to have a great franchise to work with; that’s our railroad. It reaches diverse markets and customers. It touches a majority of the country’s population, manufacturing and energy consumption. We have solid growth prospects, with top-notch channel partners.”
Squires also spoke about NS’s new operating plan, TOP21. Through this PSR (Precision Scheduled Railroading)-based operating plan, NS said it will operate fewer, heavier trains; balance network and asset flows; use more-direct routing between origin-destination pairs; reduce reclassification; fully integrate local and system operations; and reduce costs.