Norfolk Southern profit hit by downturn in coal

Wednesday, October 24, 2012

Norfolk Southern reported a profit of $402 million in the third quarter, 27 percent less than the $554 million it earned in the third quarter of 2011. Railway operating revenues totaled $2.7 billion in the quarter, down 7 percent from the $2.9 billion in the third-quarter 2011. "Third-quarter results reflect weak market conditions, which resulted in declines in our coal and merchandise shipments," said Norfolk Southern Chief Executive Officer Wick Moorm...

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