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Norfolk Southern's 2Q profit doubles as volume returns

The railroad said it earned $819 million, or $3.28 per share. That is up from $392 million, or $1.53 per share, last year.
Credit: AP
FILE - In this March 31, 2021 file photo, a Norfolk Southern freight train moves along elevated tracks in Philadelphia. Norfolk Southern's second-quarter profit more than doubled as the number of shipments the railroad hauled rebounded 25% from the worst of the coronavirus pandemic a year ago. (AP Photo/Matt Rourke, File)

NORFOLK, Va. — Norfolk Southern’s second-quarter profit more than doubled as the number of shipments the railroad hauled rebounded 25% from the worst of the coronavirus pandemic a year ago. 

The railroad said it earned $819 million, or $3.28 per share. That is up from $392 million, or $1.53 per share, last year. 

The results beat Wall Street expectations. The analysts surveyed by FactSet expected Norfolk Southern to report earnings per share of $2.95. 

In last year's second quarter, the number of shipments the railroad delivered fell 26% as restrictions designed to slow the spread of the virus slowed the economy to a crawl. 

This year, shipments were up in every category.

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