Categories Earnings

Norfolk Southern Corp. (NSC): Q3 2019 Earnings Snapshot

– 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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