Norfolk Southern Sees Lower 3Q Income
Norfolk Southern Corp. said its third-quarter net income will be below a year ago on lower revenue from coal, general merchandise and fuel surcharges.
Earnings will be $1.18 to $1.25 per share, down from $1.59 a year ago, the company said late Wednesday.
Lower coal and merchandise shipments, offset in part by growth in intermodal volumes, will reduce revenue by about $120 million from the $2.9 billion revenue of last year’s third quarter.
The Eastern freight railroad will release its third-quarter earnings on Oct. 23.