Norfolk Southern hauls in 20 pct higher 3Q profit PDF  | Print |  E-mail
Written by Associated Press   
Wednesday, 23 October 2013 08:43

OMAHA, Neb. (AP) — Norfolk Southern's third-quarter profit surged 20 percent despite weak coal deliveries thanks to rising volumes and rate increases elsewhere.

The Norfolk, Va., railroad posted $482 million in net income, or $1.53 per share. That's up from $402 million, or $1.24 per share, a year ago.

Revenue grew 5 percent to $2.8 billion as it hauled 4 percent more carloads.

Both beat Wall Street expectations, according a poll from FactSet, with analysts expecting per-share earnings of $1.39 and $2.77 billion in revenue.

The railroad said Wednesday that strength in shipments of chemicals, construction materials, intermodal containers and vehicles offset a 9 percent decline in coal revenue.

Shares of Norfolk Southern Corp. gained $1.42 to sell for $82.02 in premarket trading Wednesday.


Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

 

Front Page Stories

Market Square already bustling with business
07/26/2014 | MARIE THOMAS BAIRD Sentinel Education Editor
article thumbnail

Market Square in BG along Wooster Street. (J.D. Pooley/Sentinel-Tribune) Market S [ ... ]


Young man goes west to further his acting career
07/26/2014 | DAVID DUPONT Arts & Entertainment Editor
article thumbnail

Justin Betancourt (left) and Jeffrey Guion perform. (Enoch Wu/Sentinel-Tribune) J [ ... ]


Other Front Page Articles