NS Says 1Q Profit to Dip 3%
Railroad Cites Bad Weather, Weakness in Auto, Home Sectors
Norfolk Southern Corp. said its first-quarter earnings will be 3% lower than a year earlier, as its freight shipments declined.
The eastern freight railroad’s carloads fell 4.4% in the quarter due bad weather and weakness among automakers and homebuilders, company said late Wednesday.
NS did not cite specific earnings figures, saying it does not give forecasts.
The company will report its first-quarter earnings on April 25.
The company’s first-quarter net income last year was $305 million.
