Norfolk Southern exceeds Q3 earnings expectations with $1.1bn profit, driven by operational efficiency and derailment payouts.
Norfolk Southern, a leading US railroad, reported strong third-quarter earnings of $1.1 billion ($4.85 per share), exceeding analyst expectations. This was fueled by operational efficiencies, insurance payouts from a derailment, and the sale of rail lines. Excluding one-time items, earnings were $737 million ($3.25 per share), surpassing the $3.15 estimate. The company aims to enhance profit margins and maintain reliable service amidst safety scrutiny.
October 22, 2024
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