Earnings Drop Forces Norfolk Southern Railway to Trim 2015 Capex by $130 Million

SUGAR LAND--July 28, 2015--Researched by Industrial Info Resources (Sugar Land, Texas)--Executives with Norfolk Southern Corporation (NYSE:NSC) (Norfolk, Virginia) said the freight railway will trim its planned 2015 capital expenditures (capex) by about 5% as a result of lower earnings. The railway, which operates in 22 states, reported its second-quarter 2015 net income fell 23% to $433 million, in comparison with the same quarter last year, as a drop in fuel surcharge revenue and coal shipments took a bite out of earnings. Industrial Info is tracking 41 active Norfolk Southern projects worth $1.34 billion.

Within this article: Details on Norfolk's quarter and projects, including the upgrades and rehabilitations of several statewide networks.