Norfolk Southern’s 3Q Profit Drops

Norfolk Southern Corp. said its third-quarter profit dropped 27%, and income from railway operations fell 22% to $731 million.

Net income dropped to $402 million, or $1.24 per share, from $554 million, or $1.59, a year ago.

Revenue fell 7% to $2.7 billion, the eastern U.S. freight railroad said.

Intermodal revenue rose 3% to $567 million.