The Canadian PressJuly 23, 2013 18:31
OMAHA, Neb. - Norfolk Southern said Tuesday that its second-quarter profit slid 11 per cent, as the railroad struggled to offset continued weak coal demand and shipping volume grew by only 2 per cent.
The Norfolk, Va.-based railroad reported $465 million net income, or $1.46 per share, during the quarter. That's down from $524 million, or $1.60 per share, last year.
Revenue declined 3 per cent to $2.8 billion.
Analysts surveyed by FactSet expected earnings of $1.49 per share on revenue of $2.85 billion.