For the first quarter of 2012, Norfolk Southern reported net income of $410 million, 26 percent higher than the $325 million for the first quarter of 2011.
First-quarter 2011 results included a $58 million non-cash charge that reduced the railroad’s net income by $36 million, or $0.10 per diluted share.
Compared to the first quarter of 2011, railway operating revenues improved 6 percent to $2.8 billion in the first quarter of 2012, primarily based on the result of a 5-percent increase in revenue per unit.
General merchandise revenues improved 13 percent to $1.5 billion, while coal revenues declined 6 percent to $766 million and intermodal revenues improved 9 percent to $527 million.
Norfolk Southern profit up 26% in 1Q
