Earnings

Norfolk Southern (NSC) earnings Q1 2023

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General view of the site of the derailment of a train carrying hazardous waste, in East Palestine, Ohio, U.S., March 2, 2023. 

Alan Freed | Reuters

Norfolk Southern on Wednesday reported an initial $387 million charge associated with the company’s East Palestine, Ohio, derailment in February, which spilled toxic chemicals into the environment.

The charge resulted in a year-over-year decline in first-quarter profits, the rail company said.

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Norfolk Southern said income from railway operations for the quarter was $711 million, down 34% from the same period in 2022. Excluding the East Palestine derailment, income from railway operations was $1.1 billion, up 1% compared to…



Source cnbc.com

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