Norfolk Southern railroad delivered 27% higher 3Q profit

Published October 26, 2022 6:53 AM

By JOSH FUNK
AP Business Writer

OMAHA, Neb. (AP) — Norfolk Southern hauled in 27% more third-quarter profit as the railroad increased shipping rates and reduced the number of delayed deliveries that shippers have been complaining about this year. The Atlanta-based railroad said it earned $958 million, or $4.10 per share, in the quarter. That beat the $3.75 per share that Wall Street was expecting even though it included a $117 million charge related to the raises it offered to its employees in new contracts that are being voted on now. Norfolk Southern said the average speed of its trains and the amount of time railcars spend sitting in terminals both improved to their best levels this year.

Article Topic Follows: AP National Business

Jump to comments ↓

Associated Press

BE PART OF THE CONVERSATION

KION 46 is committed to providing a forum for civil and constructive conversation.

Please keep your comments respectful and relevant. You can review our Community Guidelines by clicking here

If you would like to share a story idea, please submit it here.