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Norfolk Southern Corp. Reports Operating Results (10-Q)

October 25, 2012 | About:

Norfolk Southern Corp. (NYSE:NSC) filed Quarterly Report for the period ended 2012-09-30.

Norfolk Southern Corp. has a market cap of $22.31 billion; its shares were traded at around $61.85 with a P/E ratio of 11.3 and P/S ratio of 2. The dividend yield of Norfolk Southern Corp. stocks is 3%. 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:

Third quarter railway operating revenues were $2.7 billion in 2012, down $196 million or 7%, compared with the third quarter of 2011. For the first nine months of 2012, railway operating revenues were $8.4 billion, down

$19 million compared with the same period last year. As shown in the following table, the decrease for the quarter was the result of lower average revenue per unit (which includes the effects of fuel surcharges) and lower traffic volume. For the first nine months, lower average revenue per unit was partially offset by higher traffic volume. Fuel surcharges amounted to $286 million in the third quarter (down $72 million) and $976 million for the first nine months (up $8 million).

Coal revenues decreased $198 million, or 22%, in the third quarter and $386 million, or 15%, for the first nine months, compared with the same periods last year. Both decreases were the result of declines in traffic volume (down 14% in the third quarter and 13% for the first nine months) and average revenue per unit (down 9% in the third quarter and 3% for the first nine months). Coal tonnage by market was as follows:

General merchandise revenues decreased $14 million, or 1%, in the third quarter compared with the same period last year, driven by a marginal decrease in traffic volume, partially offset by a slight rise in average revenue per unit. For the first nine months, general merchandise revenues increased $286 million, or 7%, reflecting a 4% improvement in average revenue per unit and a 2% increase in traffic volume.

Intermodal revenues increased $16 million, or 3%, in the third quarter, compared with the same period last year, reflecting a 5% increase in traffic volumes partially offset by a 2% decline in average revenue per unit. For the first nine months, intermodal revenues increased $81 million, or 5%, reflecting a 5% increase in traffic volume.

Read the The complete Report

About the author:

10qk
Charlie Tian, Ph.D. - Founder of GuruFocus. You can now order his book Invest Like a Guru on Amazon.

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