NORFOLK SOUTHERN 4TH-QUARTER EARNINGS TO BE LOWER THAN EXPECTED
Norfolk Southern said Wednesday that its fourth quarter earnings will be lower than expected, due to a softening economy, changes in traffic mix and record-high fuel prices.
Norfolk, Va.-based NS said earnings per diluted share, excluding a work force reduction charge, are likely to be 5 to 10 cents.
Carloadings in all commodity groups are below the fourth quarter of 1999, except for agriculture, which is flat, and intermodal, NS said.
The railroad will release its earnings and quarterly results Jan. 24.