(Source: Associated Press, July 27, 2022)
Norfolk Southern continued to struggle with the delivery delays that have plagued freight railroads this year and reported flat second-quarter profit as the number of shipments it delivered slipped 3%. The railroad used rate increases and higher fuel surcharges to generate $819 million profit, or $3.45 cents per share. A year ago, the railroad also reported $819 million net income, but before all the stock repurchases it has made in the past year that was $3.28 per share. The railroad revenue grew 16% to $3.25 billion.
Full story: Associated Press