FTXR - Why Is Norfolk Southern Stock Taking A Hit Today? | Benzinga
Norfolk Southern Corporation (NYSE:NSC) shares are trading lower following worse-than-expected first-quarter FY24 financial results.
Railway operating revenue declined 4% Y/Y to $3.004 billion, missing the consensus of $3.046 billion.
Sales by segments: Merchandise $1.86 billion (-1% Y/Y), Intermodal $745 million (-8% Y/Y), and Coal $396 million (-10% Y/Y).
Railway operating expenses increased by 15% Y/Y to $2.79 billion. Income from railway operations declined by 70% Y/Y to $213 million.