Norfolk Southern Q1 net income drops to $53M ($0.23 EPS) from $466M; incident costs persist

NORFOLK SOUTHERN CORP

2024-Q1 EPS reported $0.23 revenue$3,004,000,000

Q1 2024 diluted EPS $0.23 vs $2.04 a year ago; net income fell 89% to $53M.
Railway operating revenues $3.0B, down 4% YoY from $3.1B; intermodal and coal declined.
Eastern Ohio incident expenses $592M in Q1 2024 (incl. $108M insurance recoveries), up from $387M.
Restructuring charges $99M for voluntary/involuntary separation of ~350 nonagreement employees and COO appointment.
No share repurchases in Q1 2024; spent $1.64B on acquisition of CSR assets and $557M on property additions.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.7

NORFOLK SOUTHERN CORP reported financial results for first quarter 2024.

Period: first quarter 2024
Result: reported results

Exact text from the filing

Norfolk Southern confirms first quarter 2024 results in-line with preliminary release

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Source: SEC EDGAR

accession 0001552781-24-000243

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