Norfolk Southern's (NSC) Q4 Earnings Beat On Volume Growth
Zacks Investment Research | Jan 25, 2019 07:35AM ET
Norfolk Southern Corporation (NYSE:NSC) delivered fourth-quarter 2018 earnings of $2.57 per share, surpassing the Zacks Consensus Estimate of $2.30. The bottom line also soared 52.1% on a year-over-year basis.
Railway operating revenues in the quarter under review grossed $2,896 million, higher than the Zacks Consensus Estimate of $2,845.1 million. Moreover, the top line rose 8.5% year over year owing to higher fuel-surcharge revenues and robust volumes among other factors. Overall, volumes expanded 3% on the back of growth in intermodal and coal segments.
Income from railway operations augmented 8% year over year to $1.1 billion. Operating expenses increased 9% year over year to $1.8 billion. Norfolk Southern’s operating ratio (operating expenses as a percentage of revenues) in the fourth quarter came in at 62.8% compared with 62% in the fourth quarter of 2017. The same for 2018 stood at 65.4% compared with 67.4% in 2017.
Norfolk Southern Corporation Price, Consensus and EPS Surprise
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