Ahead of its earnings report in two weeks, Norfolk Southern (NSC -1.2%) discloses that a $385M non-cash charge in Q1 will reduce EPS by $1.11.
The charge is related to the disposal of approximately 300 locomotives and the designation of an additional 400 locomotives as held for sale.
The company says the introduction of precision scheduled railroading in 2019 continues to provide significant benefits to the network operations and has resulted in excess capacity resulting in the sidelining of these locomotives.
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