EAST PALESTINE — The train derailment in East Palestine has reportedly cost Norfolk Southern nearly $1 billion.
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On Feb. 3, about 50 cars on a Norfolk Southern train derailed in East Palestine, more than a dozen of which were carrying hazardous materials.
The railroad company said it has set aside $416 million this quarter for clean-up costs, according to an earnings report Thursday.
It comes after the company spent $387 million last quarter on clean-up and compensation.
Norfolk Southern also estimates it has lost nearly $200 million on transportation that had to be diverted to trucks or other railroads due to service disruptions.
The train derailment took place on a major track corridor that connects Chicago to the eastern United States.
Norfolk Southern said it also missed Wall Street expectations for earnings this quarter but has lost about five percent since the derailment.
>>RELATED: DeWine asks Biden for disaster declaration in East Palestine
NewsCenter 7 previously reported earlier this month that Governor Mike DeWine has asked President Joe Biden to issue a Major Presidential Declaration in relation to the train derailment in East Palestine.
Clean-up near the derailment site continues months after the disaster.