Norfolk Southern Tops Views, Increases Buyback Program -- Earnings Review

   By Imani Moise

Norfolk Southern Corp. reported first-quarter earnings before the opening bell Wednesday. Here's what you need to know:

REVENUE: Railway operating revenue rose 5.5% to $2.72 billion, driven 8% growth in intermodal which offset declines in merchandise and coal volumes. Revenue in each segment went up despite volume declines. Analysts polled by Thomson Reuters had forecast $2.68 billion in sales.

EARNINGS: Profit rose to $552 million, or $1.93 a share, from $433 million, or $1.48 a share, a year earlier. The Wall Street consensus on earnings was $1.77 a share.

BUYBACKS: Citing a promising 2018 outlook, the company raised its annual share repurchases to $1.5 billion. Share repurchases totaled $1 billion in 2017.

STOCK MOVE: Shares rose 2.2% to $138 during premarket trading. As of Tuesday's close, the stock had fallen 6.9% so far this year while the S&P 500 has dropped 1.5%.

Write to Imani Moise at imani.moise@wsj.com

(END) Dow Jones Newswires

April 25, 2018 08:57 ET (12:57 GMT)

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