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Norfolk Southern Q3 profit falls YOY

Norfolk Southern Corp. said its third-quarter normalized net income came to $1.57 per share, compared with the S&P Capital IQ consensus estimate of $1.41 per share.

EPS decreased 11.8% year over year from $1.78.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $475.6 million, a decline of 14.7% from $557.5 million in the prior-year period.

The normalized profit margin declined to 16.7% from 18.4% in the year-earlier period.

Total revenue decreased 10.3% year over year to $2.71 billion from $3.02 billion, and total operating expenses decreased 8.4% year over year to $1.85 billion from $2.02 billion.

Reported net income declined 19.4% on an annual basis to $451.0 million, or $1.49 per share, from $559.6 million, or $1.79 per share.