Norfolk Southern’s 2Q Profit Rises 21%
Norfolk Southern Corp. said its second-quarter profit increased 21% and revenue rose 9%.
Net income increased to $562 million, or $1.81 per share, from $465 million, or $1.47, a year ago. Second-quarter revenue increased to $3 billion, the eastern U.S. freight railroad said.
Intermodal revenue rose 11% to $650 million, and volume increased by the same percent.
Income from railway operations rose 22% to $1.01 billion, and shipment volume declined 1% in the second quarter.
“We see continued strength across most of our business segments and are optimistic that overall economic conditions will drive growth. Our focus remains unchanged,” Norfolk Southern CEO Wick Moorman said in a statement.
