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Norfolk Southern 3Q Earnings Rise

By Matt Grossman

 

Norfolk Southern Corp. Wednesday reported third-quarter earnings of $3.06 a share, compared with $2.22 a share in the year-ago period. Analysts polled by FactSet were expecting earnings of $2.91 a share.

Net income was $753 million, compared with $569 million 12 months ago.

Railway operating revenue rose 14% to $2.85 billion. Revenue per unit also increased by 14%.

Railway operating expenses rose by 3% to $1.7 billion. Excluding an impairment charge in the year-ago quarter, expenses were up by 10%, driven by higher costs from fuel, purchased services and compensation and benefits.

 

Write to Matt Grossman at matt.grossman@wsj.com

 

(END) Dow Jones Newswires

October 27, 2021 08:30 ET (12:30 GMT)

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