Norfolk Southern Profit Down on Lower Coal, Fuel Surcharges

U.S. railroad Norfolk Southern Corp on Monday reported a lower quarterly net profit due to falling coal freight shipments and a decline in fuel surcharge revenue.

The Norfolk, Virginia-based railroad reported second-quarter net income of $433 million or $1.41 per share, down 23 percent from $562 million or $1.79 per share a year earlier.

Analysts had on average expected earnings per share for the quarter of $1.42.

Reporting By Nick Carey