Norfolk Southern Fourth-Quarter Profit Rises
Norfolk Southern Corp. said its fourth-quarter profit increased 24%, and income from railway operations rose 23% to $881 million.
Net income rose to $513 million, or $1.64 per share, from $413 million, or $1.30, a year ago.
Fourth-quarter revenue increased 7% to $2.9 billion, the eastern U.S. freight railroad said. Intermodal revenue rose 6% to $618 million.
The company said its 2013 full-year net income increased 9% to $1.9 billion, and intermodal revenue rose 6% to $2.4 billion compared with the prior year.
“Norfolk Southern’s team of safety and service-oriented employees drove our record-setting fourth-quarter results through increased productivity, efficient network operations and continued revenue gains,” Norfolk Southern CEO Wick Moorman said in a statement. “We’re seeing the results of our investments in network capacity and technology enhance our ability to offer superior service to all of our customers.”