Norfolk Southern profit jumps 45%
| Moorman |
Norfolk Southern Corp. said it had first quarter net profit of $257 million, 45 percent more than in the same 2009 period.
Revenue rose 15 percent to $2.2 billion in the latest quarter.
'Demand for rail transportation continues to grow in most sectors of our business,” said Wick Moorman, Norfolk Southern chief executive officer, saying it reflected positive trends in the economy.
Compared to the first quarter of 2009, general merchandise revenues were up 23 percent to $1.2 billion, coal revenues up 4 percent to $629 million, and intermodal revenues up 12 percent to $410 million.