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Norfolk Southern Corporation’s (NSC - Free Report) fourth-quarter 2021 earnings of $3.12 per share surpassed the Zacks Consensus Estimate of $3.04. Moreover, the bottom line improved 18.2% year over year despite supply-chain disruptions.
Railway operating revenues in the quarter under review came in at $2,852 million, outperforming the Zacks Consensus Estimate of $2,789.9 million. The top line increased 10.8% year over year with all key segments, merchandise, intermodal and coal registering an improvement in revenues. Revenue per unit rose 15% year over year. Total volumes declined 4% year over year due to supply-chain crisis among other factors.
Norfolk Southern Corporation Price, Consensus and EPS Surprise
Income from railway operations climbed 15% year over year to $1.1 billion. Railway operating expenses shot up 8% on a year-over-year basis to $1.7 billion, primarily due to higher expenses on fuel and purchased services. Norfolk Southern’s operating ratio (operating expenses as a percentage of revenues) improved to 60.4% in the fourth quarter from 61.8% in the year-ago quarter owing to higher revenues. With respect to this metric, lower the value, the better.
Segmental Performance
Coal revenues totaled $350 million, up 21% year over year. Coal volumes rose 4%. Revenue per unit jumped 16% in the reported quarter.
Merchandise revenues climbed 8% year over year to $1,671 million. Volumes grew 2% while revenue per unit bumped up 6% year over year.
Intermodal revenues augmented 14% year over year to $831 million. While segmental volumes decreased 7%, revenue per unit ascended 23%.
Liquidity, Dividends & Share Buyback
This currently Zacks Rank #3 (Hold) player exited 2021 with cash and cash equivalents of $839 million compared with $1,115 million at the end of 2020. Norfolk Southern had long-term debt of $13,287 million at the end of 2021 compared with $12,102 million at December 2020-end.
In 2021, Norfolk Southern paid dividends worth $1,028 million, up 7.1% year over year. NSC repurchased and retired common stock worth $3,390 million in 2021 compared with $1,439 million a year ago.
J.B. Hunt Transport Services reported fourth-quarter 2021 earnings of $2.28 per share, surpassing the Zacks Consensus Estimate of $1.99. The bottom line surged 58.3% year over year on the back of higher revenues across all segments.
JBHT’s operating revenues of $3,497 million also outperformed the Zacks Consensus Estimate of $3,287.8 million. The top line jumped 27.7% year over year. Total operating revenues, excluding fuel surcharges, rose 21.7% year over year.
United Airlines incurred a loss (excluding 39 cents from non-recurring items) of $1.60 per share in the fourth quarter of 2021, narrower than the Zacks Consensus Estimate of a loss of $2.23. The amount of loss narrowed by 77.1% year over year.
UAL’s operating revenues of $8,192 million also outperformed the Zacks Consensus Estimate of $7,930.9 million. The top line surged more than 100% year over year, with passenger revenues, which accounted for 84% of the top line, soaring 185.4% to $6,878 million.
Delta reported fourth-quarter 2021 earnings (excluding 86 cents from non-recurring items) of 22 cents per share, outpacing the Zacks Consensus Estimate of 15 cents. Earnings came against the year-ago quarter’s loss of $2.53 per share. Strong holiday travel demand and favorable pricing aided the December quarter’s results.
DAL’s revenues came in at $9,470 million, which not only beat the Zacks Consensus Estimate of $9,232.1 million but also soared more than 100% from the year-ago figure as people resorted to air travel during the holidays.
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Norfolk Southern (NSC) Q4 Earnings Beat, Rise 18.2% Y/Y
Norfolk Southern Corporation’s (NSC - Free Report) fourth-quarter 2021 earnings of $3.12 per share surpassed the Zacks Consensus Estimate of $3.04. Moreover, the bottom line improved 18.2% year over year despite supply-chain disruptions.
Railway operating revenues in the quarter under review came in at $2,852 million, outperforming the Zacks Consensus Estimate of $2,789.9 million. The top line increased 10.8% year over year with all key segments, merchandise, intermodal and coal registering an improvement in revenues. Revenue per unit rose 15% year over year. Total volumes declined 4% year over year due to supply-chain crisis among other factors.
Norfolk Southern Corporation Price, Consensus and EPS Surprise
Norfolk Southern Corporation price-consensus-eps-surprise-chart | Norfolk Southern Corporation Quote
Income from railway operations climbed 15% year over year to $1.1 billion. Railway operating expenses shot up 8% on a year-over-year basis to $1.7 billion, primarily due to higher expenses on fuel and purchased services. Norfolk Southern’s operating ratio (operating expenses as a percentage of revenues) improved to 60.4% in the fourth quarter from 61.8% in the year-ago quarter owing to higher revenues. With respect to this metric, lower the value, the better.
Segmental Performance
Coal revenues totaled $350 million, up 21% year over year. Coal volumes rose 4%. Revenue per unit jumped 16% in the reported quarter.
Merchandise revenues climbed 8% year over year to $1,671 million. Volumes grew 2% while revenue per unit bumped up 6% year over year.
Intermodal revenues augmented 14% year over year to $831 million. While segmental volumes decreased 7%, revenue per unit ascended 23%.
Liquidity, Dividends & Share Buyback
This currently Zacks Rank #3 (Hold) player exited 2021 with cash and cash equivalents of $839 million compared with $1,115 million at the end of 2020. Norfolk Southern had long-term debt of $13,287 million at the end of 2021 compared with $12,102 million at December 2020-end.
In 2021, Norfolk Southern paid dividends worth $1,028 million, up 7.1% year over year. NSC repurchased and retired common stock worth $3,390 million in 2021 compared with $1,439 million a year ago.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Sectorial Snapshots
Within the broader Transportationsector, J.B. Hunt Transport Services (JBHT - Free Report) , United Airlines (UAL - Free Report) and Delta Air Lines (DAL - Free Report) recently reported fourth-quarter 2021 results.
J.B. Hunt Transport Services reported fourth-quarter 2021 earnings of $2.28 per share, surpassing the Zacks Consensus Estimate of $1.99. The bottom line surged 58.3% year over year on the back of higher revenues across all segments.
JBHT’s operating revenues of $3,497 million also outperformed the Zacks Consensus Estimate of $3,287.8 million. The top line jumped 27.7% year over year. Total operating revenues, excluding fuel surcharges, rose 21.7% year over year.
United Airlines incurred a loss (excluding 39 cents from non-recurring items) of $1.60 per share in the fourth quarter of 2021, narrower than the Zacks Consensus Estimate of a loss of $2.23. The amount of loss narrowed by 77.1% year over year.
UAL’s operating revenues of $8,192 million also outperformed the Zacks Consensus Estimate of $7,930.9 million. The top line surged more than 100% year over year, with passenger revenues, which accounted for 84% of the top line, soaring 185.4% to $6,878 million.
Delta reported fourth-quarter 2021 earnings (excluding 86 cents from non-recurring items) of 22 cents per share, outpacing the Zacks Consensus Estimate of 15 cents. Earnings came against the year-ago quarter’s loss of $2.53 per share. Strong holiday travel demand and favorable pricing aided the December quarter’s results.
DAL’s revenues came in at $9,470 million, which not only beat the Zacks Consensus Estimate of $9,232.1 million but also soared more than 100% from the year-ago figure as people resorted to air travel during the holidays.