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AP National Business

Norfolk Southern railroad delivered 27% higher 3Q profit

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Published 7:53 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.

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