Norfolk Southern Earnings Chug 47% Higher Thursday, October 28, 2:52 PM ET
Railroad Norfolk Southern has posted a 47% gain in third quarter earnings.
The company said net income totaled $445 million, or $1.19 per share, compared to $303 million, or $0.81 per share, in the same quarter last year.
Revenue rose 19%, to $2.5 billion.
Earnings per share exceeded analyst expectations, and revenue just about met estimates.
The company’s CEO said it sees an economy characterized by “slow growth, but growth nonetheless.”
Norfolk Southern shares are trading down around 1% Thursday.
Shares of rival Union Pacific (NYSE:
UNP) are trading up 1%, while CSX (NYSE: CSX) trades up .6%, and Canadian National Railway (NYSE: CNI) trades up nearly half a percent.
For MarketNewsVideo.com, I’m Sayoko Murase.
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Norfolk Southern Earnings Chug 47% Higher
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