https://www.cbsnews.com/news/norfolk-so ... ment-ohio/
Norfolk Southern is going to pay 600 million dollars for the damage they caused in East Palestine Ohio a year ago. Is Norfolk Southern nearly gonna go bankrupt? Could a Conrail 2.0 happen? I sure hope so. This railroad is just one huge mess.
Norfolk Southern Settlement
-
Saturnalia
- Authority on Cat
- Posts: 15397
- Joined: Wed Sep 28, 2011 7:54 pm
- Location: Michigan City, IN
- Contact:
Re: Norfolk Southern Settlement
The company still has massive positive cash flow. They’ll be fine it’ll just dent the earnings in the near term while they take the charges.
-
Standard Railfan
- Railroadfan...fan
- Posts: 1805
- Joined: Wed Jan 18, 2012 7:25 pm
- Location: Marquette, MI
Re: Norfolk Southern Settlement
Norfolk Southern’s fourth quarter earnings from railway operations was in excess of $800 million AFTER taking a $150 million charge to account for costs associated with the “eastern Ohio incident “.
Charges against earnings were also taken in the 3rd quarter ($163 MM), 2nd quarter ($416 MM), and the 1st quarter ($387 MM).
There is little likelihood of NS filing for bankruptcy due to this settlement.
Charges against earnings were also taken in the 3rd quarter ($163 MM), 2nd quarter ($416 MM), and the 1st quarter ($387 MM).
There is little likelihood of NS filing for bankruptcy due to this settlement.