press "> press " />

1370 Ontario St. - Mezzanine, Cleveland, Ohio 44113 • (216) 241-2630 / Fax: (216) 241-6516

Membership
Benefits
News and Issues
Departments
Secretary-Treasurers
Information
Merchandise
Communications
FELA
Events
Links
User Info

Norfolk Southern reports first-quarter 2012 results

(Source: Norfolk Southern press release, April 24, 2012)

NORFOLK, Va. — For the first quarter of 2012, Norfolk Southern Corporation reported net income of $410 million ($1.23 per diluted share), 26 percent higher than $325 million ($0.90 per diluted share) for the first quarter of 2011. First-quarter 2011 results included a $58 million non-cash charge that reduced net income by $36 million, or $0.10 per diluted share.

For 2012 vs. 2011, Norfolk Southern achieved the following first-quarter records:

• Railway operating revenues increased 6 percent to $2.8 billion.
• Income from railway operations improved 24 percent to $745 million.
• Net income increased 26 percent to $410 million.
• Diluted earnings per share rose 37 percent to $1.23.

“I am pleased to report another record-breaking quarter for Norfolk Southern during which we achieved first-quarter highs in revenues, operating income, net income, and earnings per share,” said CEO Wick Moorman. “The benefits of our steady focus on service and operating efficiency are reflected in our results, and we continue to position our franchise for sustained growth through strategic investments in infrastructure.”

Compared with the first quarter of 2011, in the first quarter of 2012: Railway operating revenues improved 6 percent to $2.8 billion, primarily as the result of a 5 percent increase in revenue per unit; general merchandise revenues improved 13 percent to $1.5 billion; coal revenues declined 6 percent to $766 million; and intermodal revenues improved 9 percent to $527 million.

Railway operating expenses for the quarter were $2 billion, up 1 percent compared with first-quarter 2011. The increase was largely due to higher fuel prices, compensation costs, and materials expenses, offset in part by the absence of last year’s non-cash charge.

Income from railway operations for the first quarter increased 24 percent to $745 million compared with the same period of 2011.

The first-quarter railway operating ratio improved 5 percent to 73.3 percent compared with first-quarter 2011, and equaled our first-quarter record.

Thursday, April 26, 2012

Like us on Facebook at
Facebook.com/BLETNational

© 1997-2014 Brotherhood of Locomotive Engineers and Trainmen

 


Safety Task Force Hotline
800-306-5414

Decertification Helpline
800-393-2716

DAILY HEADLINES

Teamster Nation: Get the latest updates in the War on Workers
Oil by rail up 9 percent as U.S. oil production hits 8.5 million barrels a day
Lawyers, union want charges dropped against railway employees in Lac-Megantic disaster
As rail traffic jam persists, U.S. power plants look to roads, rivers
AAR: Combined weekly rail traffic up 3.2 percent over 2013 for week ending August 23
Air quality problems dog Canadian oil by rail terminal
Editorial: Big plans in store for high-speed rail in Texas
Railroad police officer falls off bridge, knocked unconscious in struggle with suspect
Maryland pulls $30 million from CSX rail facility project
Rail agreement opens fresh markets for North Dakota crops
North Dakota congressional delegation criticizes CP Rail
CP Rail train derails in western Saskatchewan, wind may have been factor
Amtrak street work leads to historic finds
Railroad Retirement Board financial reports

More Headlines


Enter your e-mail address to receive BLET news updates.

Subscribe  Unsubscribe