Norfolk Southern to report 2Q earnings Tuesday afternoon - WSLS 10 NBC in Roanoke/Lynchburg Va

Norfolk Southern to report 2Q earnings Tuesday afternoon

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(AP) - Norfolk Southern railroad will release its second-quarter earnings report on Tuesday afternoon.
    
The report should show whether coal demand has leveled off at a weaker level.
    
All the major freight railroads have seen a significant drop in coal demand over the past couple years because many utilities switched coal power plants to burning natural gas to take advantage of relatively cheap natural gas prices.
    
Analysts surveyed by FactSet predicted Norfolk Southern, based in Norfolk, Va., will report earnings of $1.49 per share on revenue of $2.85 billion.
    
A year ago, Norfolk Southern reported $524 million net income, or $1.60 per share, on revenue of $2.87 billion.

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