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Norfolk Southern Q2 profit falls YOY

Norfolk Southern Corp. said its second-quarter normalized net income was $1.43 per share, compared with the S&P Capital IQ consensus estimate of $1.42 per share.

EPS decreased 20.3% year over year from $1.79.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $436.9 million, a decline of 22.2% from $561.3 million in the prior-year period.

The normalized profit margin dropped to 16.1% from 18.4% in the year-earlier period.

Total revenue fell 10.8% year over year to $2.71 billion from $3.04 billion, and total operating expenses fell 6.1% on an annual basis to $1.90 billion from $2.02 billion.

Reported net income decreased 23.2% year over year to $430.8 million, or $1.41 per share, from $561.0 million, or $1.79 per share.