Norfolk Southern Preliminary Q1 Profit Below Estimates

(RTTNews) - Norfolk Southern Corporation (NSC), on Tuesday, reported preliminary first-quarter profit that came in below estimates. Quarterly earnings came in at $0.23. The first-quarter results reflected the impact of a $600 million agreement to settle a consolidated class action lawsuit. It also included charges related to its separation programs that will eliminate management positions and also a deferred tax adjustment among others. Collectively, these reduced earnings per share by $2.26, the company said in a statement. Preliminary first-quarter adjusted earnings per share stood at $2.49. On average, 19 analysts polled by Thomson Reuters expect the company to report profit per share of $2.61, for the quarter. Analysts' estimates typically exclude special items.

First quarter railway operating revenues were $3.00 billion. Railway operating expenses were $2.79 billion.

Norfolk Southern is scheduled to announce its first-quarter results on April 24.

Shares of Norfolk Southern are down 1% in pre-market trade on Tuesday.

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