– Transportation firm Norfolk Southern Corporation (NYSE: NSC) reported earnings of $2.49 per share for the third quarter of 2019, vs. $2.58 per share expected.
– Net income was $657 million, including a $32 million write-off of receivables resulting from a legal dispute
– Railway operating revenues dropped 4% annually to $2.8 billion, vs. $2.85 billion expected
– Raised quarterly dividend by 9% from $0.86 to $0.94 per share
– Operating ratio for the quarter was 64.9%, the highest in any third quarter
– Norfolk Southern stock climbed to an all-time high in July, after gaining steadily since the beginning of 2019. The shares closed the last trading session higher.
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