Norfolk Southern’s 3Q Earnings Decline

Eastern freight railroad Norfolk Southern Corp. said Wednesday its third-quarter earnings fell 7% to $386 million or 97 cents a share, from $416 million or $1.02 a year ago.

Revenue dipped 1.7% to $2.35 billion, the company said in a statement.

Railway operating revenues slipped to $2.35 billion from $2.39 billion, while intermodal revenue fell 6% to $484 million.

General merchandise revenue was $1.29 billion, a third-quarter record and an increase of 1% compared with the same period last year, despite a 3% decline in volume, NS said.