Fri, Jul 26, 11:25 AM (43 days ago)
Norfolk Southern Corporation's Q2 2024 10-Q report highlights a 2% increase in railway operating revenues to $3,044 million, driven by higher volumes and pricing. Operating expenses dropped 20% to $1,913 million, mainly due to lower costs related to the Eastern Ohio incident. Consequently, income from railway operations surged 96% to $1,131 million. Net income more than doubled to $737 million, with diluted EPS rising to $3.25. The operating ratio improved to 62.8%. Cash flow from operations was $1.9 billion, with significant investments in property additions and CSR asset acquisition. The report also notes restructuring costs and ongoing impacts from the Eastern Ohio incident.