Media Kit » Try RailPrime™ Today! »
Progressive Railroading
Newsletter Sign Up
Stay updated on news, articles and information for the rail industry

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

View Current Digital Issue »


Rail News Home Financials


Rail News: Financials

First-quarter financials: NS posts record revenue, income; drops operating ratio south of 80


Norfolk Southern Corp. is off to a good start in 2004. The Class I posted record first-quarter revenue and operating income, and lowered its quarterly operating ratio below 80.

During the first quarter, NS recorded $1.7 billion in revenue, $346 million in operating income and $158 million in net income compared with $1.6 billion, $231 million and $85 million, respectively, in first-quarter 2003. The railroad's quarterly operating ratio of 79.6 improved 5.6 points and carloads increased 7 percent compared with the same 2003 period.

"We recorded the highest railway operating revenues in our history [and] the best first-quarter operating ratio since the Conrail integration in what is
traditionally the most challenging quarter," said NS Chairman, President and Chief Executive Officer David Goode in a prepared statement. "Our network velocity reached an all-time high as our average train speed exceeded our goal [and] our network fluidity continued to improve as we handled 109,000 more carloads in the quarter but our cars on line remained constant."

Quarterly general-merchandise revenue reached a record $967 million, a 5 percent increase compared with first-quarter 2003. Chemical revenue set a record, too, increasing 6 percent. Coal revenue rose 12 percent and intermodal revenue, 13 percent, compared with last year.

However, quarterly operating expenses increased 1 percent or $17 million to $1.34 billion.

Contact Progressive Railroading editorial staff.

More News from 4/21/2004