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.

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