Norfolk Southern says cost of fiery Ohio derailment doubles to $803 million as cleanup continues

By JOSH FUNK
AP Business Writer

OMAHA, Neb. (AP) — The costs associated with Norfolk Southern’s fiery February derailment in Ohio have more than doubled to $803 million as the railroad works to clean up the mess and moves forward with all the related lawsuits. Norfolk Southern recorded another $416 million charge related to the East Palestine derailment on Thursday as part of its second-quarter earnings. Most of the costs are related to the cleanup of the hazardous chemicals that were released. The derailment prompted a national reckoning on railroad safety. The additional charges related to the derailment, combined with a 6% drop in the number of shipments the railroad delivered, more than halved the Atlanta-based company’s profit to $356 million.