Norfolk Southern railroad's 4Q profit flat as total volume grows but coal revenue falls 15 pct

MarketsAssociated Press

Norfolk Southern Corp. reported its profit was little changed in the fourth quarter from a year ago because the railroad's coal revenue fell 15 percent on weak demand from utilities and export markets.

The Norfolk, Virginia, based company said Monday that total volume increased 4 percent but that wasn't enough to offset the coal weakness.

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The railroad reported it earned $511 million, or $1.64 per share, slightly below last year's earnings of $513 million, or $1.64 per share.

Norfolk Southern said its revenue also dipped to $2.87 billion from last year's $2.88 billion.

Analysts surveyed by FactSet expected the railroad to report earnings per share of $1.63 on revenue of $2.94 billion. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of $1.64 per share on revenue of $2.93 billion.

Norfolk Southern shares slipped $1.28 to $103.50 in premarket trading Monday about 45 minutes before the market open.


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Keywords: Norfolk Southern, Earnings Report