By Katherine Hamilton
Norfolk Southern posted a higher first-quarter profit and reiterated full-year guidance despite economic uncertainty.
The railroad company on Wednesday posted a profit of $750 million, or $3.31 a share, in the first quarter, compared with $53 million, or 23 cents a share, a year earlier.
Stripping out certain one-time items, adjusted per-share earnings were $2.69, ahead of the $2.66 forecast by analysts, according to FactSet.
Norfolk Southern said the adjusted figure excluded costs associated with the 2023 train derailment in East Palestine, Ohio. Insurance recoveries related to the incident exceeded incremental costs in the quarter, it said.
Revenue fell to $2.99 billion from $3 billion a year earlier. Analysts surveyed by FactSet forecast revenue of $2.97 billion.
Norfolk Southern reiterated its full-year guidance, adding that it does so while recognizing uncertainty in the economy.
Write to Katherine Hamilton at katherine.hamilton@wsj.com
(END) Dow Jones Newswires
April 23, 2025 08:29 ET (12:29 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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