Norfolk Southern Confirms 1Q Financials In Line with Preliminary Results
By Denny Jacob
Norfolk Southern confirmed its first-quarter results were in line with preliminary results issued earlier in the month.
The railroad operator on April 9 reported railway operating revenues of about $3 billion and income from railway operations of $213 million. Adjusted earnings per-share were $2.49.
Norfolk said revenues were down 4% due to RPU headlines primarily from lower fuel surcharge and the continuation of an adverse mix along the patterns it experienced in the fourth-quarter despite volume growth.
Norfolk's results included the impact of a $600 million agreement in principle to resolve a consolidated class-action lawsuit relating to the East Palestine derailment.
Write to Denny Jacob at denny.jacob@wsj.com
(END) Dow Jones Newswires
April 24, 2024 08:34 ET (12:34 GMT)
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