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Norfolk Southern’s profit slips 12% amid merger costs and economic uncertainty
['Associated Press']
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Norfolk Southern said it made $644 million, or $2.87 per share, in the fourth quarter.
This year, the merger added $58 million in costs and the 2023 East Palestine, Ohio, derailment added another $23 million.
CEO Mark George said Norfolk Southern is focused on improving efficiency while it works with UP to draft a merger application the Surface Transportation Board will consider.
Norfolk Southern said it recorded $215 million in annual productivity savings last year.
Norfolk Southern is one of the largest freight railroads in the country with operations in the eastern U.S.