Investment Overview - Norfolk Southern Corporation is investing over $200 million to enhance capacity on the 3B Corridor in Alabama, a key rail line connecting northern and central Alabama to the Port of Mobile and global markets [1] - The investment is expected to yield immediate returns starting in 2025, supporting growth in sectors like agriculture, automotive, chemicals, forestry, and steel [2][3] Strategic Importance of the 3B Corridor - The 3B Corridor is strategically aligned with the Port of Mobile, which contributes $85 billion in annual economic value to Alabama [2] - The corridor serves critical industries and represents a significant segment of Norfolk Southern's annual traffic [2] Infrastructure Improvements - The project includes terminal and track-based infrastructure improvements, capacity projects in central and southwest Alabama, customer-specific projects in north Alabama, yard upgrades in Wilton, and grade crossing improvements throughout the region [3] Customer Collaboration - Norfolk Southern is collaborating with a high-volume met coal customer to utilize the expanded 3B Corridor, with a new premium met coal production facility set to be developed in 2025 [4] - Packaging Corporation of America expanded its paper mill along the corridor, partnering with Norfolk Southern to enhance efficiencies for both companies [5] Long-Term Strategy and Customer Focus - Norfolk Southern's long-term strategy focuses on investing in infrastructure, operating safely and efficiently, and marketing services to promote growth [6] - The company emphasizes collaboration and innovation with customers, working closely to identify business needs and develop solutions for safe, reliable, and efficient cargo transport [6] Company Background - Norfolk Southern operates a customer-centric and operations-driven freight transportation network, delivering over 7 million carloads annually across various industries [7] - The company helps customers avoid approximately 15 million tons of yearly carbon emissions by shipping via rail and has the most extensive intermodal network in the eastern U.S., serving major container ports on the Atlantic coast, Gulf of Mexico, and Great Lakes [7][8]

For the quarter ended June 2024, Southern Co. (SO) reported revenue of $6.46 billion, up 12.4% over the same period last year. EPS came in at $1.09, compared to $0.79 in the year-ago quarter. The reported revenue compares to the Zacks Consensus Estimate of $6.26 billion, representing a surprise of +3.26%. The company delivered an EPS surprise of +19.78%, with the consensus EPS estimate being $0.91. While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street e ...

Southern Co. (SO) came out with quarterly earnings of $1.09 per share, beating the Zacks Consensus Estimate of $0.91 per share. This compares to earnings of $0.79 per share a year ago. These figures are adjusted for nonrecurring items. This quarterly report represents an earnings surprise of 19.78%. A quarter ago, it was expected that this power company would post earnings of $0.90 per share when it actually produced earnings of $1.03, delivering a surprise of 14.44%. Over the last four quarters, the compan ...

ATLANTA, Aug. 1, 2024 /PRNewswire/ -- Southern Company today reported second-quarter earnings of $1.2 billion, or $1.10 per share, in 2024 compared with earnings of $838 million, or 77 cents per share, in the second quarter of 2023. For the six months ended June 30, 2024, Southern Company reported earnings of $2.3 billion, or $2.13 per share, compared with $1.7 billion, or $1.56 per share, for the same period in 2023. Excluding the items described under "Net Income – Excluding Items" in the table below, Sou ...

ANNISTON, Ala., Aug. 01, 2024 (GLOBE NEWSWIRE) -- Southern States Bancshares, Inc. (NASDAQ: SSBK) ("Southern States"), the holding company for Southern States Bank, announced today the completion of its previously announced acquisition of CBB Bancorp ("CBB Bancorp"), the holding company for Century Bank of Georgia ("Century Bank"). Effective July 31, 2024, CBB Bancorp has been merged with and into Southern States, with Southern States surviving, and Century Bank has been merged with and into Southern States ...

SAN DIEGO and OAKLAND, Calif., July 31, 2024 (GLOBE NEWSWIRE) -- Southern California Bancorp (NASDAQ: BCAL), the holding company for Bank of Southern California, N.A., and California BanCorp, the holding company for California Bank of Commerce, announce the successful closing of their previously announced merger of equals. Effective July 31, 2024, California BanCorp has merged with and into Southern California Bancorp, and California Bank of Commerce has merged with and into Bank of Southern California, N.A ...

Highlights for the fourth quarter of fiscal 2024: The Board of Directors, on July 23, 2024, declared a quarterly cash dividend on common stock of $0.23 per share, payable August 30, 2024, to stockholders of record at the close of business on August 15, 2024, marking the 121st consecutive quarterly dividend since the inception of the Company. The dividend represents an increase of $0.02 per share, or 9.5%, as compared to the previous quarterly dividend payment. The Board of Directors and management believe t ...

Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the shortterm price performance of a stock. The collective assessment of analysts points to an estimated 'Operating Revenues- Southern Power' of $526.78 million. The estimate suggests a ch ...

The Southern Company (SO) is set to release second-quarter results on Aug 1. The current Zacks Consensus Estimate for the to-be-reported quarter is a profit of 91 cents per share on revenues of $6.3 billion. Highlights of Q1 Earnings & Surprise History In the last reported quarter, the Atlanta, GA-based service provider beat the consensus mark on lower-thanexpected operating expenses to go with the positive effects of weather, rates, usage and pricing changes. Southern Company had reported adjusted earnings ...

TradingView Key Takeaways Do you have a news tip for Investopedia reporters? Please email us at tips@investopedia.com Norfolk Southern cut costs and got an insurance payout that helped the railroad beat second-quarter earnings estimates. Revenue rose 2% to above $3 billion, led by a 4% rise on merchandise shipping revenue. The news lifted shares on Friday, returning them to positive territory in 2024. Norfolk Southern (NSC) shares soared Friday after the freight train operator posted better-than-expected pr ...