Norfolk Southern announced its first-quarter earnings Wednesday which gave insight into how much the train derailment in East Palestine has affected the company financially.

According to the release, Norfolk Southern spent $387 million in connection to the East Palestine derailment. The company said the amount does not reflect any "amounts potentially recoverable under the company's insurance policies."

The release said the recovery is probable.

Norfolk Southern reported an income of $711 million which includes the charge from the derailment. When that charge is removed, the company's income was $1.1 billion, up 1% over the same period in 2022.

The company's railway operating revenues came in at $3.1 billion, up 7% over the same period last year.

“From the beginning, we have been guided by one principle: We are going to do whatever it takes to make it right for East Palestine and the surrounding areas,” said Norfolk Southern President and Chief Executive Officer Alan H. Shaw. “We are making progress every day and I’m proud of our people. Our response reflects our strategy of focusing on long-term priorities and value.”

The release did not list any future economic impacts the company could face for the East Palestine derailment.