Norfolk Southern (NYSE: NSC) has shed approximately 300 locomotives and intends to put up another 400 for sale, the Eastern U.S. railroad said in a Thursday filing to the Securities and Exchange Commission (SEC).
The company attributes its decision to the introduction of precision scheduled railroading [PSR] in 2019, which “continues to provide significant benefits to the network operations and has resulted in excess capacity,” which in turn sidelined these locomotives. PSR is an operating model that seeks to streamline operations.