Norfolk Southern Corp Earnings Cheat Sheet: Earnings Higher Than Expected

S&P 500 (NYSE:SPY) component Norfolk Southern Corporation (NYSE:NSC) reported net income above Wall Street’s expectations for the second quarter. Norfolk Southern Corp. is engaged in rail transportation of raw materials, intermediate products, and finished goods.

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Norfolk Southern Earnings Cheat Sheet for the Second Quarter

Results: Net income for the railroad company rose to $557 million ($1.56 per share) vs. $392 million ($1.04 per share) in the same quarter a year earlier. This marks a rise of 42.1% from the year earlier quarter.

Revenue: Rose 17.9% to $2.87 billion from the year earlier quarter.

Actual vs. Wall St. Expectations: NSC beat the mean analyst estimate of $1.28 per share. It beat the average revenue estimate of $2.75 billion.

Quoting Management: “Norfolk Southern delivered excellent financial results in the second quarter, setting all-time records for net income and earnings per share, as well as second-quarter records for revenues, operating income and operating ratio,” said CEO Wick Moorman. “We’re seeing opportunities in the global economy, and we are moving forward with initiatives to drive business growth, productivity, and efficiency across our company.”

Key Stats:

The company has enjoyed double-digit year-over-year percentage revenue growth for the past five quarters. Over that span, the company has averaged growth of 19.7%, with the biggest boost coming in the second quarter of the last fiscal year when revenue rose 30.9% from the year earlier quarter.

The company has now seen net income rise in three straight quarters. In the first quarter, net income rose 26.5% and in the fourth quarter of the last fiscal year, the figure rose 30.9%.

The company beat estimates last quarter after being in line with expectations in the first quarter with net income of 90 cents per share.

Competitors to Watch: CSX Corporation (NYSE:CSX), Kansas City Southern (NYSE:KSU), Union Pacific Corporation (NYSE:UNP), Burlington Northern Santa Fe, LLC (BNI), Providence & Worcester Railroad Co. (NASDAQ:PWX), Canadian National Railway (NYSE:CNI), Canadian Pacific Railway Ltd. (NYSE:CP), Genesee & Wyoming Inc. (NYSE:GWR), Pioneer Railcorp (PRRR), and RailAmerica, Inc. (NYSE:RA).

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(Source: Xignite Financials)