Norfolk Southern Corp. /zigman2/quotes/200877725/composite NSC -3.04% disclosed Thursday that it will record a first-quarter charge of $385 million, related to the disposal of about 300 locomotives and the designation of 400 others as held for sale. The charge will reduce earnings for the quarter by $1.11 a share. The company said the introduction of "precision scheduled railroading" in 2019 has resulted in excess capacity, leading to the sidelining of locomotives. The railroad operator is scheduled to report first-quarter results on April 29. The stock, which fell 2.2% in midday trading, has dropped 27.1% over the past three months, while the Dow Jones Transportation Average /zigman2/quotes/210598063/realtime DJT -2.65% has shed 30.8% and the Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA -1.84% has declined 20.6%.