Railroad company Norfolk Southern (NSC) beat earnings expectations, but revenue came in below analysts’ estimates and shares slid 2.6% after hours.
Norfolk Southern posted $1.42 of EPS, 2 cents better than expectations. Revenue of $2.8 billion just missed consensus estimates for $2.83 billion. General merchandise revenues rose 13% and coal revenues rose 24% in the quarter, as Norfolk Southern posted full-year records for income and revenue.
The company also announced earlier today that it will increase its quarterly dividend to 47 cents per share from 43 cents.
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