Norfolk Southern Profit Jumps 31%, Shipments Rise
Norfolk Southern says fourth-quarter earnings rose 31 percent, on widespread improvements in shipments led by coal and intermodal transfers from trucks.
The Norfolk, Va., company said Tuesday it earned $402 million, or $1.09 per share, compared with $307 million, or 82 cents per share a year earlier. The most recent quarter included a tax benefit of $34 million, or 9 cents per share.
Revenue rose 14 percent to $2.39 billion. Revenue from coal shipments improved the most, gaining 16 percent to $685 million. Transfers of shipments from trucks, or intermodal revenue, rose 16 percent to $471 million.
FactSet Research says analysts estimated earnings of $1.05 per share on revenue of $2.42 billion. Analysts usually exclude one-time items.
Norfolk's eastern rival CSX said Monday its fourth-quarter profit jumped 42 percent.
