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Norfolk Southern Corp. expects to have an approximately $99 million impairment charge in the third quarter, which is expected to lower operating expenses, according to an Oct. 7 filing with the U.S. Securities and Exchange Commission.
In the filing, NS said it expects to report Q3 operating revenue of $2.5 billion, operating expenses of $1.666 billion and an unadjusted operating ratio of 66.5%.
Excluding the non-cash impairment charge, for the third quarter, NS' adjusted railway operating expenses are expected to be about $1.567 billion and its adjusted operating ratio is expected to be 62.5%, the filing states.
NS will provide full third-quarter financial results on Oct. 28.