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Norfolk Southern Corp. has a market cap of $23.78 billion; its shares were traded at around $74.16 with a P/E ratio of 13.1 and P/S ratio of 2.1. The dividend yield of Norfolk Southern Corp. stocks is 2.6%. Norfolk Southern Corp. had an annual average earning growth of 11.7% over the past 10 years. GuruFocus rated Norfolk Southern Corp. the business predictability rank of 3-star.
Highlight of Business Operations:$66 million and $65 million for the first six months of 2012 and 2011, respectively. NS equity in the earnings of Conrail, net of amortization, included in “Other income – net” was $9 million and $7 million for the second quarters of 2012 and 2011, respectively, and $15 million and $13 million for the first six months of 2012 and 2011, respectively.
For the first six months of 2012, net income was $934 million, up $52 million, or 6%, compared with the same period last year. Income from railway operations increased 14%, reflecting a 3% improvement in railway operating revenues and a 1% decline in operating expenses (which reflects the absence of the prior year s $58 million unfavorable insurance arbitration ruling), offset in part by increased income tax expense.
Coal revenues decreased $138 million, or 15%, in the second quarter, reflecting a 12% decrease in traffic volume and a 4% decline in average revenue per unit as compared with the same period last year. For the first six months, coal revenues decreased $188 million, or 11%, reflecting a 12% decline in traffic volume, partially offset by a 1% improvement in average revenue per unit. Coal tonnage by market was as follows:
General merchandise revenues increased $123 million, or 9%, in the second quarter and $300 million, or 11%, in the first six months as compared with the same periods last year. Both increases reflect improvements in average revenue per unit (up 5% for the quarter and 6% for the first six months) and traffic volume (up 4% in both periods).
Intermodal revenues increased $23 million, or 4%, in the second quarter, compared with the same period last year, reflecting a 5% increase in traffic volumes and a slight decline in average revenue per unit. For the first six months, intermodal revenues increased $65 million, or 6%, reflecting a 5% increase in traffic volume and 1% improvement in average revenue per unit.
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