Norfolk Southern: Q1 results include $387M charge associated with Eastern Ohio

For the quarter, income from railway operations was $711M, and diluted earnings per share were $2.04 – down by 34% and 30%, respectively, compared to the first quarter 2022. These results include an initial $387M charge associated with the incident in Eastern Ohio and do not reflect any amounts potentially recoverable under the company’s insurance policies, which would be reflected in future periods in which recovery is considered probable. Adjusting for the effects of the incident charge, first quarter results included adjusted income from railway operations of $1.1B and adjusted diluted earnings per share of $3.32 – improvements of 1% and 13%, respectively, compared to first quarter 2022.