Norfolk Southern reports flat Q2 profit as its delays linger

By JOSH FUNK
AP Business Writer

OMAHA, Neb. (AP) — Norfolk Southern continued to struggle with the delivery delays that have plagued freight railroads this year and reported flat second-quarter profit as the number of shipments it delivered slipped 3%. The Atlanta-based railroad still beat Wall Street expectations as rate increases and higher fuel surcharges helped it generate $819 million profit, or $3.45 per share. Alan Shaw said Norfolk Southern’s service still needs to improve, but the chief executive is encouraged by the progress the railroad is making as it hires more workers and continues to streamline its operations. The railroad’s revenue grew 16% to $3.25 billion.