ATLANTA, April 27,
2022 /PRNewswire/ -- Norfolk Southern
Corporation (NYSE: NSC) today reported first-quarter 2022 financial
results which included first-quarter records for railway operating
revenues, income from railway operations, net income, and diluted
earnings per share.
First-quarter railway operating revenue was $2.9 billion, income from railway operations was
$1.1 billion, net income was
$703 million, and diluted earnings
per share was $2.93.
Norfolk Southern reported double-digit revenue and EPS growth in
the quarter. "Our financial results in the first quarter were
solid, despite current network challenges." said Alan H. Shaw, Norfolk Southern President.
"I am confident that our efforts to improve our service through
accelerated hiring and refinements to our operating plan will
provide a platform for long-term growth and efficiency for both our
customers and shareholders."
First-Quarter Summary
- Railway operating revenues of $2.9
billion were a first-quarter record, up 10%, or $276 million, compared with first-quarter 2021,
driven by a 16% increase in revenue per unit.
- Railway operating expenses were $1.8
billion, an increase of 13%, or $206
million, compared with the same period last year due to
higher fuel, purchased services, and equipment rents expenses.
- Income from railway operations was a first-quarter record of
$1.1 billion, an increase of 7%, or
$70 million, year-over-year.
- The railway operating ratio was 62.8%.
About Norfolk Southern
Norfolk Southern
Corporation (NYSE: NSC) is one of the nation's premier
transportation companies, moving the goods and materials that drive
the U.S. economy. Norfolk Southern connects customers to markets
and communities to economic opportunity, with safe, reliable, and
sustainable shipping solutions. The company's service area includes
22 states and the District of
Columbia, every major container port in the eastern
United States, and a majority of
the U.S. population and manufacturing base.
Forward-looking statements
This news release
contains forward-looking statements that may be identified by the
use of words like "believe," "expect," "anticipate," "estimate,"
"plan," "consider," "project," and similar references to the
future. Forward-looking statements reflect our good-faith
evaluation of information currently available. These
forward-looking statements are subject to a number of risks and
uncertainties, and our actual results may differ materially from
those projected. Please refer to our annual and quarterly reports
filed with the SEC for a full discussion of those risks and
uncertainties we view as most important. Forward-looking statements
are not, and should not be relied upon as, a guarantee of future
performance or results, nor will they necessarily prove to be
accurate indications of the times at or by which any such
performance or results will be achieved. As a result, actual
outcomes and results may differ materially from those expressed in
forward-looking statements. We undertake no obligation to update or
revise forward-looking statements.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/norfolk-southern-reports-first-quarter-2022-results-301533950.html
SOURCE Norfolk Southern Corporation