Norfolk Southern profit falls 18% on lower coal shipments

By: | at 03:57 PM | Intermodal  

U.S. railroad Norfolk Southern Corp reported an 18 percent fall in quarterly profit as coal shipments dropped.

The company’s net income fell to $368 million, or $1.17 per share, in the first quarter ended March 31, from $450 million, or $1.41 per share, a year earlier.

Net income in the prior-year quarter included a $60 million gain from a land sale.

Railway operating revenue dropped 1.8 percent to $2.69 billion. Revenue from coal shipments fell 15 percent. (Reuters)


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