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Norfolk Southern Profit Jumps 31%, Shipments Rise

AP
Tuesday, 25 Jan 2011 | 4:44 PM ET

Norfolk Southern says fourth-quarter earnings rose 31 percent, on widespread improvements in shipments led by coal and intermodal transfers from trucks.

Norfolk Southern
Norfolk Southern

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.

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