Railway operating revenues at Norfolk Southern ended the third quarter at $2.8 billion, a 5-percent increase over the same period in 2012, on the strength of a 4-percent rise in shipment volumes.
Income from railway operations finished up 16 percent to $849 million, while net income ended the quarter at $482 million, up 20 percent.
General merchandise revenues rose by 11 percent during the quarter. Intermodal revenues also increased, finishing the quarter up 7 percent to$605 million, but coal revenues took a 9-percent hit, ending the period at $641 million.
“Norfolk Southern delivered strong results, led by growth in our chemicals, metals/construction, intermodal, and automotive businesses, combined with ongoing productivity improvements,” Wick Moorman, the railroad’s chief executive officer, said in a statement. “Even in the face of continuing weakness in the coal markets, our focus on service efficiency and velocity allowed us to provide superior performance for our customers, and excellent results for our shareholders.”
Norfolk Southern ends 3Q with revenue increase
