Norfolk Southern Corp NSC

Industrials Railroads

Norfolk Southern Corporation is a holding company, which is engaged in the rail transportation business. The Company is engaged in the rail transportation of raw materials, intermediate products, and finished goods in the Southeast, East, and Midwest and, via interchange with rail carriers, to and from the rest of the United States. The Company also transports overseas freight through several Atlantic and Gulf Coast ports. It offers an intermodal network in the eastern half of the United States. Its railroad operations system reaches various manufacturing plants, electric generating facilities, mines, distribution centers and transload facilities. It is also a transporter of industrial products, including agricultural, forest and consumer products, chemicals, and metals and construction materials. It serves every container port and a principal carrier of coal, automobiles and automotive parts. It operates Great Lakes Reload (GLR) property in Chicago, a transload and warehouse facility.

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Norfolk Southern Corp

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Post by bc4uon Oct 23, 2012 7:45pm

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Post# 20515871

Norfolk Southern reports third-quarter 2012 result

Norfolk Southern reports third-quarter 2012 results

• Railway operating revenues were $2.7 billion.
• Income from railway operations was $731 million.
• Net income totaled $402 million.
• Diluted earnings per share were $1.24.
• The railway operating ratio equaled 72.9 percent.

Oct. 23, 2012
NORFOLK, VA. – For the third quarter of 2012, Norfolk Southern reported net income of $402 million, or $1.24 per diluted share, 27 percent lower compared with $554 million, or $1.59 per diluted share, in the third quarter of 2011.
“Third-quarter results reflect weak market conditions, which resulted in declines in our coal and merchandise shipments,” said Norfolk Southern CEO Wick Moorman. “We remain focused on controlling costs while continuing to provide high service levels for our customers and invest in projects that will support future growth.”
Railway operating revenues totaled $2.7 billion, down 7 percent compared with third-quarter 2011, primarily as the result of volume declines in coal and merchandise and lower revenues from fuel surcharges. Third-quarter 2012 fuel surcharge revenues were impacted by a $21 million unfavorable lag effect, while third-quarter 2011 fuel surcharge revenues included a favorable lag effect of $52 million.
General merchandise revenues were $1.4 billion, 1 percent lower than third-quarter 2011 results. Coal revenues fell 22 percent, to $701 million, compared with the same period last year. Intermodal revenues were $567 million, 3 percent higher compared with the third quarter of 2011.
Railway operating expenses for the third quarter increased 1 percent to $2.0 billion, compared with 2011.
Income from railway operations was $731 million, 22 percent lower compared with the same period last year.
The third-quarter railway operating ratio increased to 72.9 percent compared with 67.5 percent during the third quarter of 2011.

https://www2.nscorp.com/sd/sdoc?doc=3Q_earnings_release_20121023160400.pdf

Financial Statements

https://www.sec.gov/Archives/edgar/data/702165/000070216512000158/8-K_Financial_Statements.htm