Norfolk Southern Corp. registered its second-best year for annual revenue, operating income, net income and earnings per share in 2012, which also marked the Class I's 30th anniversary.
Those are some of the highlights NS shares in its recently released 2012 annual report that was posted yesterday on the railroad's website. The annual report is distributed to stockholders, financial community constituents, news media and libraries.
The company is positioned well for growth and "the future looks good," said NS Chairman, President and Chief Executive Officer Wick Moorman in the report.
"Despite significant challenges in our coal business, we delivered solid results for our shareholders. From an operations perspective, the railroad ran extremely well, setting all-time highs for most of our service and velocity metrics," he said. "We also continued our strong record of reinvesting in the company, with more than $2.2 billion in capital spending, including completion of some key projects to drive future growth."
Looking ahead at the remainder of 2013 and beyond, NS can exploit a number of promising growth opportunities in emerging energy markets, including the movement of crude oil, sand, pipe and other shale-related materials, said Moorman.
"I continue to have a very positive outlook for our business. Our railroad is running well, and we have demonstrated resilience in the face of a slow economic recovery," he said. "While the coal business will continue to be a wild card for the immediate future, it traditionally has been a mainstay for Norfolk Southern, and we continue to believe in it long term."
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