Norfolk Southern Reports Q2 Earnings Miss

Norfolk Southern NSC reported second-quarter earnings of $2.70 per share, which missed the analyst consensus estimate of $2.79 by 3.23%. This is a 8% increase over earnings of $2.5 per share from the same period last year.

The company reported quarterly sales of $2.92 billion, which missed the analyst consensus estimate of $2.95 billion by 0.85%. This is a 0.93% increase over sales of $2.898 billion the same period last year.

"Norfolk Southern's record financial results underscore our unrelenting commitment to shareholder value as we advance along the path of our strategic transformation," said James Squires, Norfolk Southern CEO. "Our strong financial and operational performance in the second quarter was achieved while also finalizing preparations for the successful implementation of our new operating plan, TOP'21. This execution reflects the strength of our team, commitment to our customers, and power of our balanced strategic plan to deliver enhanced shareholder value."

Norfolk Southern shares were trading down 6.5% at $183.93 in Wednesday’s pre-market session. The stock has a 52-week high of $211.46 and a 52-week low of $138.65.

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