![]() ![]() That’s higher than last year’s 19.1 mph average and also up from this year’s low point of 18.7 mph in the second quarter when one of its main tracks was still closed because of the derailment for most of the period. The analysts surveyed by FactSet Research expected Norfolk Southern to report earnings per share of $2.64, on average.īut the average speed of Norfolk Southern’s trains increased during the quarter to 20.5 mph. Norfolk Southern expects its insurance companies to eventually cover most of the cost of the derailment that forced thousands of people to evacuate their homes and left residents with worries about possible long-term health effects. While the cleanup from the February derailment continues, the railroad collected its first $25 million payment from its insurers. Without the derailment costs, the railroad would have made $601 million, or $2.65 per share. ![]() The results were hurt by the derailment costs, a drop in its fuel surcharge revenue and flat volume. ![]() The Atlanta-based railroad said this year’s third-quarter profit of $478 million, or $2.10 per share, was half of last year’s $958 million, or $4.10 per share. (AP) - The costs related to the East Palestine derailment continue to grow to reach $966 million for Norfolk Southern, but the railroad’s service is improving and its insurance companies have started to pay their share of the cost of the crash in eastern Ohio early this year. ![]()
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