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  "documentTitle": "Norfolk Southern Corporation (NSC)",
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  "presentationDate": "2024-04-15 00:00:00",
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  "notes": "The slide uses a waterfall bridge to visualize the reduction of the operating ratio from 67.4% to 61.0%.",
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      "text": "First ~650 bps of OR improvement expected from removal of 450 locomotives and 35,000 cars, fuel consumption reduction and reduced purchases of services, rents, materials, etc.",
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      "text": "Fix and redesign the network with PSR principles. Network redesign completion is expected by September 2024... Notably, this improvement does not require headcount reductions.",
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      "text": "Company filings. *67.4% is Norfolk Southern's adjusted OR to exclude the impact of the East Palestine derailment.",
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