The Altoona Mirror is reporting that NS reported its 3rd qtr profits at $478 million, which is less than half of its reported $958 million from the same quarter a year ago. Norfolk has has to fork out more than $1 billion for the clean up and aftermath of the train disaster in East Palestine Ohio. The company also reported that profits dropped due to lack of volume and a drop in its fuel surcharge, because of the lack of volume the company usually handles. Their profit would have totaled $600 million if it had not been for the derailment costs it had to absorb. NS says its insurance companies will eventually pick up most of the tab for the derailment.
