{"id":574279,"date":"2023-01-25T14:14:29","date_gmt":"2023-01-25T14:14:29","guid":{"rendered":"https:\/\/omni48.com\/?p=574279"},"modified":"2023-01-25T14:52:57","modified_gmt":"2023-01-25T14:52:57","slug":"norfolk-southern-misses-quarterly-profit-estimates-on-higher-operating-expenses","status":"publish","type":"post","link":"https:\/\/omni48.com\/news\/norfolk-southern-misses-quarterly-profit-estimates-on-higher-operating-expenses","title":{"rendered":"Norfolk Southern misses quarterly profit estimates on higher operating expenses"},"content":{"rendered":"<p>Jan 25 (Reuters) &#8211; Norfolk Southern Corp (NSC.N) reported a lower-than-expected fourth-quarter profit on Wednesday as U.S. railroad operators struggle with labor shortages, service problems and high fuel prices. The U.S. railroad industry has faced severe criticism from shippers and the U.S. Surface Transportation Board for cutting staffing in pursuit of a leaner operating model, which left operators struggling to fulfill demand. Profits have also been pressured by high fuel prices, though railroads were able to pass on some of the costs to customers. Norfolk, which has connections to every major container port on the Atlantic coast as well as the Gulf of Mexico and Great Lakes, said its railway operating expenses rose 19% to $2.1 billion during the quarter. The company&#8217;s operating revenue, however, rose 13% to $3.2 billion. Railroad operators were also set to award pay hikes and other benefits to workers as part of a tentative deal secured by the Biden administration last year to avert a<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Jan 25 (Reuters) &#8211; Norfolk Southern Corp (NSC.N) reported a lower-than-expected fourth-quarter profit on Wednesday as U.S. railroad operators struggle with labor shortages, service problems and high fuel prices.<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[36,1],"tags":[],"class_list":["post-574279","post","type-post","status-publish","format-standard","hentry","category-markets","category-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/omni48.com\/api\/wp\/v2\/posts\/574279","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/omni48.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/omni48.com\/api\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/omni48.com\/api\/wp\/v2\/comments?post=574279"}],"version-history":[{"count":0,"href":"https:\/\/omni48.com\/api\/wp\/v2\/posts\/574279\/revisions"}],"wp:attachment":[{"href":"https:\/\/omni48.com\/api\/wp\/v2\/media?parent=574279"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/omni48.com\/api\/wp\/v2\/categories?post=574279"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/omni48.com\/api\/wp\/v2\/tags?post=574279"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}