NS to Take Third Quarter Impairment Charge

Norfolk Southern told federal financial regulators this week that it expects to take a $99 million impairment charge in the third quarter, which is expected to lower operating expenses.

In a filing with the U.S. Securities and Exchange Commission, the Class 1 railroad said it expects to report third quarter operating revenue of $2.5 billion, operating expenses of $1.666 billion and an unadjusted operating ratio of 66.5 percent

Excluding the non-cash impairment charge, for the third quarter, NS expects its adjusted railway operating expenses to be $1.567 billion and its adjusted operating ratio to be 62.5 percent.

NS will release its third-quarter financial results on Oct. 28.

Tags: , , , ,

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: