(Source: Freight Waves, October 28, 2020)
CHATTANOOGA, Tenn. — Coal chiseled away at Norfolk Southern’s operating revenue for the third quarter of 2020, with a 38% decline in coal revenue dragging overall revenue down by 12%. Operating revenue was $2.5 billion for the quarter, compared with $2.8 billion in the third quarter of 2019. Of that, coal revenue was $250 million, compared with $403 million a year ago. Meanwhile, merchandise revenue was nearly $1.6 billion, down 10% from $1.7 billion in the third quarter of 2019. Intermodal revenue fell 1% year-over-year to $700 million.
Full story: Freight Waves