Norfolk Southern Stock Slips as Fuel Shock Puts Its Profit Story to the Test
Norfolk Southern reported first-quarter net income of $547 million, down from $750 million a year earlier, citing higher fuel costs and merger expenses. Revenue held steady at $3.0 billion, but operating income dropped to $877 million. Shares fell 0.5% as investors focused on fuel price pressures and weak freight volumes. Intermodal traffic slipped 4%, while coal tonnage rose 9% but brought in less revenue.