Norfolk Southern (NYSE: NSC) reported Q3 EPS of $1.75, $0.11 better than the analyst estimate of $1.64. Revenue for the quarter came in at $2.67 billion versus the consensus estimate of $2.64 billion.

Third-quarter summary

• Railway operating revenues of $2.7 billion increased 6 percent compared with third-quarter 2016, as overall volumes were 4 percent higher, reflecting growth within our major commodity categories of coal and intermodal.
• Railway operating expenses increased $55 million, or 3 percent, compared with third-quarter 2016, to $1.8 billion as targeted expense reductions and gains from the disposition of operating property helped offset volume and inflation-related expenses and higher incentive compensation.
• Income from railway operations was $911 million, up 11 percent year-over-year, and the operating ratio, or operating expenses as a percentage of revenues, was 65.9 percent, an all-time quarterly record.

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