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is kriti industries (india) limited (kriti) a good long term bet ✌️【Stock Club】✌️ Professional investment advice with real-time updates on stock indices and futures data. Stay ahead with expert predictions and market insights. Norfolk Southern said a February derailment that released massive amounts of toxic chemicals in East Palestine, Ohio, cost the railroad $387 million. That dragged profit lower by about a third.

is kriti industries (india) limited (kriti) a good long term bet ✌️【Stock Club】✌️ Free access to global stock market data, with real-time updates on indices, futures, and commodities. Make informed investment decisions with the help of expert advisors and accurate stock trend predictions. The Atlanta-based company reported it earned $466 million last quarter, down from the $703 million it earned in the same quarter a year earlier. Without the charge for the derailment, the railroad said income from rail operations would have totaled $1.1 billion in the quarter, comparable to a year ago. Net income would have improved to $759 million.

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On a quarterly earnings call Wednesday, CEO Alan Shaw repeated earlier statements that the railroad intends to make things right for East Palestine and nearby communities affected by the derailment. He said despite that incident and a series ofother derailmentsby its trains in the quarter, derailments were actually down compared to the first quarter of 2022.

“We are a safe railroad,” he told analysts. “We strive to do better. We are going to learn from this accident to become an even safer company.”

is kriti industries (india) limited (kriti) a good long term bet ✌️【Stock Club】✌️ Free stock data analysis tools to help you select stocks accurately and capture global market trends. Stay ahead with expert market predictions for better investment returns. Shaw said the continued effort to clean the derailment site is still impacting the railroad’s operations. When it removed the double track at the site in order toget rid of the contaminated soil, it replace that with one temporary track. It continues to run trains at slower than normal speeds over the affected tracks.

is kriti industries (india) limited (kriti) a good long term bet ✌️【Stock Club】✌️ Real-time stock and futures data, backed by expert stock market trend predictions, to help you make timely and profitable investment decisions. Shaw said the remediation under one of the tracks was completed last week, and it is starting now under the other track. The double track should be restored in early June.

One month later, people living near a toxic train derailment wonder if their lives will ever be back on track

is kriti industries (india) limited (kriti) a good long term bet ✌️【Stock Club】✌️ AI-driven stock trend forecasting with free access to real-time market data, offering personalized investment advice and expert predictions. The track is on a major route for the railroad, carrying freight between Chicago and the eastern United States. But neither he nor the railroad’s financial report gave details about the continuing costs of that slowdown, and whether or not that is included in the $387 million cost estimate.

is kriti industries (india) limited (kriti) a good long term bet ✌️【Stock Club】✌️ Real-time stock market data, precise predictions, and investment strategies to help you optimize your portfolio and achieve financial success. The $387 million is an estimate on both money spent so far as well as future costs. The money spent so far comes to $55 million, according to CFO Mark George. The cost does not assume any recovery from insurance. The company had previously said it has about$1.1 billion in coverage, although how much will be paid by insurers has yet to be determined.

is kriti industries (india) limited (kriti) a good long term bet ✌️【Stock Club】✌️ Free expert predictions on stock trends and real-time data to help you make informed decisions and grow your wealth steadily. Shaw also said the estimate does not include any potential recovery from other parties, raising the possibility that Norfolk Southern could sue others, alleging that they are at fault for the accident. The rail cars that had problems with their axle that caused the fire that preceded the derailment are owned by Norfolk Southern customers, not the railroad.

is kriti industries (india) limited (kriti) a good long term bet ✌️【Stock Club】✌️ Accurate real-time market data and expert stock predictions for profitable investment opportunities in global markets. Norfolk disclosed it spent $163 million in the quarter on share repurchases, buying back 600,000 shares. It did not disclose whether those purchases were made before or after the derailment, although the average price paid suggests it came before the accident.

is kriti industries (india) limited (kriti) a good long term bet ✌️【Stock Club】✌️ Expert stock predictions and free stock selection services to help you achieve optimal returns and long-term growth. The buybacks are way down from the 2.2 million shares it repurchased for $600 million a year ago. But the company still plans to repurchase an additional $7.3 billion worth of its stock in the future under a plan approved by the board of directors.

is kriti industries (india) limited (kriti) a good long term bet ✌️【Stock Club】✌️ Receive professional stock analysis with real-time updates on market movements. Make quick investment decisions and capitalize on profitable opportunities. The company has spent $13 billion on share buybacks since 2018, including the most recent purchases. Those purchases, and its purchase plans going forward, have been the subject of criticism since the derailment.

During aSenate hearing in Marchon the derailment, Sen. Jeff Merkley of Oregon asked Shaw, “Will you pledge to no more stock buybacks until a raft of safety measures have been completed to reduce the risk of derailments and crashes in the future?”

is kriti industries (india) limited (kriti) a good long term bet ✌️【Stock Club】✌️ Free access to stock market forums, expert advice, and real-time data to help you stay informed and grow your investments. Shaw did not directly answer the question, saying only “I will commit to continuing to invest in safety.”

is kriti industries (india) limited (kriti) a good long term bet ✌️【Stock Club】✌️ Get precise stock market predictions and free access to real-time market data for efficient decision-making and portfolio growth. Shares of Norfolk closed down 3% Wednesday. They are now down about 20% since just before the derailment. Shares of two other major railroads, Union Pacific(UNP)and CSX(CSX), are also both still lower from before the derailment on concerns aboutlegislation that would impose tougher regulationon freight railroads.

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