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Norfolk Southern railroad's Q4 profit up 13% on higher rates

Earns-Norfolk Southern
Posted at 12:12 PM, Jan 26, 2022
and last updated 2022-01-26 12:12:06-05

OMAHA, Neb. — Norfolk Southern railroad delivered 13% higher profit in the fourth quarter even though the amount of cargo it transported declined because it was able to raise rates.

The Atlanta-based company said it earned $760 million, or $3.12 per share, in the quarter. That’s up from $671 million, or $2.64 per share, a year earlier.

The results topped Wall Street expectations.

The analysts surveyed by Zacks Investment Research had predicted earnings per share of $3.04, on average.

Norfolk Southern hauled 4% fewer shipments as auto production continued to be hurt by the ongoing shortage of computer chips and supply chain challenges slowed shipments of containers of imported and domestic goods.

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