By Dean Seal


Norfolk Southern Corp. said higher prices and fuel surcharges pushed railway operating revenue to an all-time record in the third quarter and drove earnings growth that exceeded analyst expectations.

The railroad operator reported third-quarter earnings of $958 million, or $4.10 a share, compared with $753 million, or $3.06 a share, in the year-ago period. Analysts polled by FactSet were expecting earnings of $3.60 a share.

Railway operating revenue hit what the company is calling an all-time quarterly record of $3.3 billion, with revenue per unit rising 20%. Analysts had been expecting $3.23 billion, according to FactSet.

Railway operating expenses rose 21% to $2.1 billion due to higher fuel prices and labor costs that the company attributed to inflation and slower network velocity.


Write to Dean Seal at dean.seal@wsj.com


(END) Dow Jones Newswires

10-26-22 0855ET