Norfolk Southern Corp.’s profit for 2017 and for the fourth quarter of the year ballooned as a result of the enactment of the nation’s recently signed tax-reform act, the company reported Wednesday.
Quarterly net income for the Norfolk-based railroad surged to $3.97 billion, while earnings per share swelled to $13.79.
For the year, net income was $5.4 billion and earnings per share were $18.61.
The results added $3.48 billion to net income in both periods and increased earnings per share by $12.10 for the quarter and $12.00 for the year, the company reported.
