Norfolk Southern reports higher fourth quarter profit as regulators return Union Pacific merger filing
Norfolk Southern reported an adjusted fourth-quarter profit that beat estimates. The result comes as regulators returned a major merger filing as incomplete.
Insights:
Atlanta-based Norfolk Southern Corporation reported a rise in fourth-quarter profit on Thursday, exceeding analyst expectations despite a decline in railway revenue and volumes. The company reported an adjusted profit of $3.22 per share for the quarter, compared with $3.04 per share a year earlier. This result surpassed the expectations of analysts who had predicted an adjusted profit of $2.76 per share, according to data compiled by LSEG. Shares of the company were up 1% in morning trade following the results.
