Norfolk Southern Corporation announced Wednesday its third quarter 2023 financial results. For the quarter, income from railway operations was $756 million and diluted earnings per share were $2.10. These results include a $163 million charge associated with the incident in Eastern Ohio which includes an initial insurance recovery of $25 million.
Adjusting for the effects of the incident charge, third quarter results included income from railway operations of $919 million and diluted earnings per share of $2.65 – declines of 28% and 35%, respectively, compared to the third quarter of 2022.
Third Quarter Summary
- Railway operating revenues of $3.0 billion, down $372 million, or 11%, compared to third quarter 2022.
- Income from railway operations was $756 million inclusive of a $163 million charge associated with the Eastern Ohio Incident, a 41% decline compared to $1.3 billion in the third quarter of 2022.
- Adjusting for the Eastern Ohio Incident, income from railway operations was $919 million, down $353 million, or 28%, compared to third quarter 2022.
- Adjusting for the Eastern Ohio Incident, income from railway operations was $919 million, down $353 million, or 28%, compared to third quarter 2022.
- Diluted earnings per share were $2.10, a decline of 49% compared to third quarter 2022.
- Adjusting for the Eastern Ohio Incident, diluted earnings per share were $2.65, down $1.45, or 35%, compared to third quarter 2022.
-via Press Release