Railroad Running Well After Best-ever Year in 2011, Norfolk Southern CEO Says in Annual Report

NORFOLK, Va. — After setting performance records in 2011, Norfolk Southern Corp. looks ahead to its 30th anniversary in 2012 and beyond “with confidence, optimism, and a great deal of enthusiasm,” CEO Wick Moorman tells stockholders in the 2011 annual report, posted on the company’s website.

“The railroad is running well, we have a strong capital budget, and the right projects are under way to enhance our business franchises,” Moorman says. Improving markets and corporate initiatives combined to make 2011 the company’s “best-ever year,” he notes, with record revenues, operating income, net income, and earnings per share.

“Perhaps most importantly, everything that was achieved in 2011 was achieved safely.” Employees posted their lowest-ever injury ratio. “That kind of accomplishment happens only through personal commitment and a culture that puts safety first, and I could not be prouder of our people,” Moorman says in his letter to stockholders.

“We have come an incredible distance” since the modern Norfolk Southern was founded 30 years ago in 1982, “and yet we have not strayed an inch from our core beliefs,” Moorman says. “You can be sure that we will continue to do the right things for our customers, our communities, our investors, and our employees.”