So instead of earing $1.1 BILLION in the first quarter, the railroad giant only earned $466 million.
CLEVELAND, Ohio -Norfolk Southern CEO Alan Shaw confirmed to investors this week, the cleanup process in East Palestine from the February train derailment has cost the company $387 million in first quarter losses.
If NS had not sustained those losses, it’s expected its profit for the first quarter would have topped $1.1 billion.
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Norfolk Southern reports $387 million charge for the first quarter after East Palestine derailment“It’s going to require an industrywide response,” Norfolk Southern CEO Alan Shaw said Wednesday on the Ohio train derailment, adding the company established a training facility that “gives us an opportunity to further train first responders...”
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East Liverpool residents worry about toxic soil from East Palestine train derailment being burned in community“We don’t want it burned here because they’ve proven they can’t be trusted, we don’t even know what is in that dirt,” said Amanda Kiger, Executive Director of River Valley Organizing and East End resident.
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Norfolk Southern estimates Ohio derailment will cost $387MThe estimate includes $30.9 million the railroad has pledged to help residents and the community around East Palestine recover from the derailment.
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Norfolk Southern says early estimate of Ohio derailment is $387MThe Atlanta-based railroad provided that estimate of the cost of the Feb. 3 derailment outside East Palestine, Ohio, Wednesday when it released its first-quarter earnings report.
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East Palestine families living in limbo months after fireEAST PALESTINE, Ohio (AP) — Jeff Drummond spends days and nights alone in a tiny room with fake wood paneling, two small beds and a microwave atop a mini refrigerator that serves as a nightstand — his pickup truck parked just outside the door at the roadside motel where he's taken refuge since early February.
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