Norfolk Southern Corp. reported that its fourth-quarter profit fell 32% from a year ago.
The railroad earned $307 million, or 82 cents per share, compared with $452 million, or $1.21 per share, a year earlier.
NS said that it felt a “continuation of economic momentum” in the fourth quarter. It saw drops in many types of shipments, but coal saw the largest drop at 27% from a year ago.
Revenue declined 16% to $2.11 billion from $2.5 billion.
Intermodal revenue fell 15% from a year ago to $407 million. General merchandise revenue fell 9% to $1.1 billion.
For the full year, profit decreased 39.7% to $1.03 billion. Revenue fell 25.3% to $7.97 billion in the same period.
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