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Norfolk Southern Corporation (NSC) - $25 value - yours FREE >>
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Norfolk Southern (NSC) Beats on Q1 Earnings, Revenues
Leading U.S. railroad operator Norfolk Southern Corp. (NSC - Free Report) reported first-quarter 2017 earnings of $1.48 per share that beat the Zacks Consensus Estimate of $1.35.
The bottom line also improved 14.73% year over year, aided by a rise in income from railway operations and a lower effective income tax rate.
Railway operating revenues in first-quarter 2017 came in at $2,575 million,above the Zacks Consensus Estimate of $2,542.7 million. Revenues also improved 6.4% on a year-over-year basis. Volume growth drove the top line.
Income from railway operations climbed 7% year over year to $773 million. Operating expenses increased 6% year over year to $1.8 billion. Operating ratio (defined as operating expenses as a percentage of revenues) in the reported quarter was almost flat on a year-over-year basis at 70%.
Segments
On a year-over-year basis, coal revenues increased 20.3% to $420 million.
Merchandise revenues were up 2.3% year over year to $1,584 million.
Intermodal revenues rose 9.4% year over year to $571 million.
Norfolk Souther Corporation Price, Consensus and EPS Surprise
Norfolk Souther Corporation Price, Consensus and EPS Surprise | Norfolk Souther Corporation Quote
Liquidity
Norfolk Southern exited the first quarter with cash and cash equivalents of $955 million, compared with $956 million at the end of 2016. The company had long-term debt of $9,569 million, compared with $9,562 million at the end of 2016.
Zacks Rank & Key Picks
Norfolk Southern currently carries a Zacks Rank # 3 (Hold). Better-ranked stocks in the broader transportation sector are Aegean Marine Petroleum Network , CSX Corporation (CSX - Free Report) and CAI International . All of these stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Shares of Aegean Marine, CSX and CAI International gained over 23%, 67% and 161%, respectively, over the last six months.
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