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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Norfolk Southern Corp | NYSE:NSC | NYSE | Common Stock |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| -3.69 | -1.74% | 208.80 | 213.30 | 208.82 | 212.85 | 2,031,528 | 01:00:00 |
From Jun 2023 to Jun 2024
By Dean Seal
Norfolk Southern reported lower operating revenue in the third quarter while earnings were nearly cut in half, dragged by ongoing costs tied to the February train derailment in East Palestine, Ohio.
The railroad operator said income from railway operations came in at $756 million, which included a $163 million charge tied to the derailment earlier this year. The charge includes an initial insurance recovery of $25 million.
Quarterly earnings were $2.10 a share, down from $4.10 a share last year.
Stripping out the impact of the derailment charge, adjusted earnings were $2.65 a share, which is still down 35% from earnings in the year-ago quarter. Analysts surveyed by FactSet had been expecting $2.69 a share.
Railway operating revenue fell 11% to $3 billion, but was still higher than the $2.94 billion market consensus of analysts polled by FactSet.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
October 25, 2023 08:36 ET (12:36 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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