Oct. 23,
2013
Norfolk Southern reports
third-quarter 2013 earnings
For 2013 vs. 2012
§ Railway operating revenues
increased 5 percent to $2.8 billion.
§ Income from railway operations was
$849 million, up 16 percent.
§ Net income increased 20 percent to
$482 million.
§ Diluted earnings per share were
$1.53, up 23 percent.
§ The railway operating ratio
improved 3 percentage points to
69.9 percent.
69.9 percent.
NORFOLK, VA. - Norfolk Southern
reported third-quarter net income of $482 million,
20 percent higher than $402 million for the same period of 2012. Diluted earnings per share were $1.53, up 23 percent compared with $1.24 per diluted share in the
third quarter last year.
20 percent higher than $402 million for the same period of 2012. Diluted earnings per share were $1.53, up 23 percent compared with $1.24 per diluted share in the
third quarter last year.
“Norfolk Southern delivered strong
results, led by growth in our chemicals, metals/construction, intermodal, and
automotive businesses, combined with ongoing productivity improvements,” said
CEO Wick Moorman. “Even in the face of continuing weakness in the coal markets,
our focus on service efficiency and velocity allowed us to provide superior
performance for our customers and excellent results for our
shareholders.”
Railway operating revenues were
$2.8 billion, 5 percent higher compared with third-quarter 2012, with shipment
volumes increasing 4 percent.
For the third quarter, general
merchandise revenues were $1.6 billion,11 percent higher compared with the third
quarter of 2012, primarily as a result of a 6 percent growth in
shipments.
Coal revenues were $641 million, 9
percent lower compared with the third quarter last year, due to lower average
revenue per unit and a 2 percent decline in volumes.
Intermodal revenues were $605
million, a 7 percent increase compared with third-quarter 2012. Volumes
increased 5 percent due to continued domestic and international
growth.
Railway operating expenses for the
third quarter totaled $2.0 billion, 1 percent higher compared with the same
period of 2012.
Income from railway operations for
the third quarter was $849 million, 16 percent higher compared with the same
period last year.
The railway operating ratio for
the third quarter improved 3 percentage points to 69.9 percent compared with
72.9 percent in the same quarter last year.
Norfolk Southern
Corporation is
one of the nation’s premier transportation companies. Its Norfolk Southern
Railway Company subsidiary operates approximately 20,000 route miles in 22 states and the District of
Columbia, serves every major container port in the eastern United States, and
provides efficient connections to other rail carriers. Norfolk Southern operates
the most extensive intermodal network in the East and is a major transporter of
coal, automotive, and industrial products.
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Norfolk Southern
contacts: