Norfolk Southern Profit Falls on Higher Fuel Costs
The railroad operator reported an adjusted profit of $2.65 per share as rising fuel prices and winter weather impacted margins. Revenue remained flat at $3 billion.
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NORFOLK SOUTHERN CORP reported a decline in its first-quarter profit on Friday, as the railroad operator struggled with a combination of escalating operating costs and a sharp rise in fuel prices. The financial results highlight the broader pressure on the transportation and logistics sectors following geopolitical tensions between Israel and Iran, which have driven energy costs higher globally.
