Norfolk Southern: 3Q Earnings Snapshot
NORFOLK, Va. (AP) — Norfolk Southern Corp. (NSC) on Wednesday reported third-quarter net income of $657 million.
On a per-share basis, the Norfolk, Virginia-based company said it had net income of $2.49. Earnings, adjusted for non-recurring costs, came to $2.58 per share.
The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $2.57 per share.
The railroad posted revenue of $2.84 billion in the period, which met Street forecasts.
Norfolk Southern shares have climbed 26% since the beginning of the year, while the Standard & Poor’s 500 index has increased 20%. The stock has risen 15% in the last 12 months.