Norfolk Southern Corp.
Norfolk Southern Corp., Canadian Pacific and Canadian National Railway Co. reported their third-quarter profits increased.
Norfolk Southern’s net income increased to $482 million, or $1.53 per share, from $402 million, or $1.24, a year ago. Revenue increased 5% to $2.8 billion, the eastern U.S. freight railroad said.
Intermodal revenue rose 7% to $605 million.
“Norfolk Southern delivered strong results, led by growth in our chemicals, metals/construction, intermodal and automotive businesses, combined with ongoing productivity improvements,” CEO Wick Moorman said in a statement.
Canadian Pacific’s net income increased to C$324 million, or C$1.85 per share, from C$224 million, or $1.31, last year. Revenue rose 6% to C$1.5 billion, and intermodal revenue declined 6% to C340 million.