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 Norfolk Southern Railway


Rail News: Norfolk Southern Railway

NS' first-quarter earnings impacted by Mother Nature


The harsh winter weather has been cited by some railroads as impacting first-quarter earnings. Count Norfolk Southern Corp. among them.

This morning, the Class I reported first-quarter net income of $368 million, an 18 percent drop compared with first-quarter 2013, which had included an income gain from a land sale.

Operating revenue totaled $2.7 billion and diluted earnings per share clocked in a $1.17. Income from railway operations dipped 3 percent year over year to $667 million, while operating expenses declined 1 percent to $2 billion. The operating ratio rose slightly to 75.2, versus first-quarter 2013's 74.8.

By commodity group, chemical revenue jumped 12 percent and intermodal revenue rose 4 percent. Agriculture revenue remained flat, while coal revenue dropped 15 percent; automotive revenue declined 7 percent, paper and first products revenue dipped 3 percent, and metals and construction products revenue dropped 1 percent.

"Following the extreme winter weather across the U.S. rail network, which impacted first-quarter results, we are seeing a rebound in shipments across all of our businesses," said NS Chief Executive Officer Wick Moorman in a prepared statement.

Contact Progressive Railroading editorial staff.

More News from 4/23/2014