By Dave Sebastian

Norfolk Southern Corp. (NSC) said its third-quarter profit declined along with revenue, falling short of Wall Street estimates as a legal dispute weighed on its earnings.

The transportation company posted net income of $657 million, or $2.49 a share, compared with $702 million, or $2.52 a share, in the comparable quarter last year. Analysts polled by FactSet were expecting $2.62 a share.

Norfolk Southern said the latest quarter's results include a $32 million write-off from a legal dispute, which hurt earnings by nine cents a share.

Railway operating revenue for the quarter was $2.84 billion, missing the $2.86 billion analysts had expected. The company posted $2.95 billion in revenue a year ago.

Write to Dave Sebastian at dave.sebastian@wsj.com

(END) Dow Jones Newswires

October 23, 2019 08:28 ET (12:28 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
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