NS reports Q1 2023 income; Says East Palestine derailment cost it $387 million

(Source: CNN, April 26, 2023)

Norfolk Southern said a February derailment that released massive amounts of toxic chemicals in East Palestine, Ohio, cost the railroad $387 million. That dragged profit lower by about a third. The Atlanta-based company reported it earned $466 million last quarter, down from the $703 million it earned in the same quarter a year earlier. Without the charge for the derailment, the railroad said income from rail operations would have totaled $1.1 billion in the quarter, comparable to a year ago. Revenue at the railroad was up 7% to $3.1 billion.

Full story: CNN