Norfolk Southern Q1 profit up 26pc to US$410 million on 6pc sales hike
2012 04 30
- Details
THE Norfolk Southern (NS) railway, covering the eastern United States, reported record first quarter profits, up 26 per cent to US$410 million year on year, drawn on a six per cent revenue increase to $2.8 billion.
This was attributed to more aggressive pricing, common to other US railways, and a 13 per cent general merchandise business as well as an intermodal revenue increase of nine per cent. This more than offset a fall in revenue from coal shipments, which slipped six per cent.
Revenue per carload and intermodal unit increased 5.2 per cent on a 1.1 per cent volume increase. Revenue per intermodal unit increased 3.3 per cent and intermodal volume was up 5.1 per cent year on year. Operating costs increased one per cent to $2 billion on higher fuel prices and other expenses.
"The benefits of our focus on service and operating efficiency are reflected in our results, and we continue to position our franchise for sustained growth through strategic investments in infrastructure," said CEO Wick Moorman.
Source Shipping Gazette - Daily Shipping News
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