By Will Feuer


Norfolk Southern reported a drop in fourth-quarter operating income, weighed down by another $150 million charge from last year's train derailment in East Palestine, Ohio.

The railroad operator reported income from railway operations of $808 million, or $2.32 a share, down from $1.18 billion, or $3.42 a share, in the same period a year earlier.

Stripping out one-time items, including the charge tied to the high-profile derailment of the train in Eastern Ohio last year, adjusted earnings were $2.83 a share. Analysts surveyed by FactSet expected $2.87 a share.

Railway operating revenue fell 5% to $3.07 billion. Analysts expected $3.09 billion.

For 2024, the company is targeting revenue growth of about 3%.

Overall for 2023, the train derailment in Ohio cost Norfolk Southern $1.1 billion, pushing the company's total railway operating costs up 17% to $9.3 billion for the year.


Write to Will Feuer at Will.Feuer@wsj.com


(END) Dow Jones Newswires

01-26-24 0834ET