Coal chiseled away at Norfolk Southern’s (NYSE: NSC) operating revenue for the third quarter of 2020, with a 38% decline in coal revenue dragging overall revenue down by 12%.
Operating revenue was $2.5 billion for the quarter, compared with $2.8 billion in the third quarter of 2019. Of that, coal revenue was $250 million, compared with $403 million a year ago.
Meanwhile, merchandise revenue was nearly $1.6 billion, down 10% from $1.7 billion in the third quarter of 2019. Intermodal revenue fell...
https://www.freightwaves.com/news/coal-puts-pressure-on-norfolk-southerns-third-quarter-revenue