Norfolk Southern Q2: 8% Revenue Decline, Higher Operating Expenses & More
Portfolio Pulse from Akanksha Bakshi
Norfolk Southern Corp (NYSE:NSC) reported a Q2 FY23 railway operating revenue decline of 8% YoY to $2.98 billion, missing the consensus of $3.08 billion. Adjusted EPS was $2.95, below the consensus of $3.11. The company's results include a $416 million charge associated with an incident in Eastern Ohio. Railway operating expenses increased by 21% YoY to $2.40 billion. The company repurchased and retired 1.3 million shares in the first six months of 2023 for $303 million. NSC shares are trading lower by 0.83% at $234.96.
July 27, 2023 | 4:21 pm
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Norfolk Southern's Q2 FY23 results missed consensus estimates, with a significant revenue decline and increased operating expenses. The company's shares are trading lower.
Norfolk Southern's Q2 FY23 results missed consensus estimates, with a significant 8% YoY decline in revenue and a 21% increase in operating expenses. This negative financial performance is likely to have a negative impact on the company's stock price in the short term.
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IMPORTANCE 80
RELEVANCE 100