Norfolk Southern Corp ( NSC ) reported third-quarter financial results before the market open on Tuesday. Here’s a rundown of the report.

Q3 Earnings: Norfolk Southern ( NSC ) reported third-quarter adjusted earnings of $3.25 per share, beating analyst estimates of $3.11 per share, according to estimates from Benzinga Pro.

The company reported railway operating revenues of $3.1 billion, up 3% on a year-over-year basis. Income from railway operations was up 11% year-over-year. Operating ratio was 47.7% in the quarter and 63.4% on an adjusted basis.

“Working together, our team drove productivity and grew volumes while demonstrating resiliency in dealing with weather challenges,” said Mark George, president and CEO of Norfolk Southern ( NSC ).

“Thanks to our team’s hard work, we delivered sequential and year-over-year margin improvement putting us on track to achieve our adjusted operating ratio targets for the second half and full year 2024, and we are well positioned for long-term value creation.”

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Norfolk Southern ( NSC ) said it closed two railway line sales during the quarter resulting in cash proceeds of nearly $400 million and gains of $380 million.  The company also noted that insurance recoveries related to the Eastern Ohio incident exceeded incremental costs for the second consecutive quarter.

Management will hold a conference call to further discuss its quarterly results at 8:45 a.m. ET.

NSC Price Action: Norfolk Southern ( NSC ) shares were up 2.96% at $255.50 at the time of publication Tuesday, according to Benzinga Pro.