We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Norfolk Southern Corporation (NSC - Free Report) reported better-than-expected second-quarter 2022 results, wherein both earnings and revenues outperformed the Zacks Consensus Estimate.
Quarterly earnings of $3.45 per share surpassed the Zacks Consensus Estimate of $3.44. Moreover, the bottom line improved 5.2% year over year.
Railway operating revenues in the quarter under review came in at $3,250 million, outperforming the Zacks Consensus Estimate of $3,135.1 million. The top line increased 16.1% year over year, with all key segments — merchandise, intermodal and coal — registering improvement in revenues. Revenue per unit rose 16% year over year. Total volumes declined 5% year over year due to network challenges.
Income from railway operations climbed 9% year over year to $1,271 million. Railway operating expenses shot up 21% on a year-over-year basis to $1,979 million, primarily due to higher expenses on fuel and purchased services. Norfolk Southern’s operating ratio (operating expenses as a percentage of revenues) deteriorated to 60.9% in the second quarter from 58.3% in the year-ago quarter, owing to higher revenues.
Norfolk Southern Corporation Price, Consensus and EPS Surprise
Merchandise revenues climbed 10% year over year to $1,853 million. Volumes declined 1% while revenue per unit ascended 12% year over year.
Intermodal revenues augmented 21% year over year to $972 million. While segmental volumes decreased 4%, revenue per unit ascended 27%.
Coal revenues totaled $425 million, up 34% year over year. Coal volumes dipped 4%. Revenue per unit jumped 39% in the reported quarter.
Liquidity, Dividends & Share Buyback
Norfolk Southern exited the second quarter with cash and cash equivalents of $1,259 million compared with $1,571 million at the end of March 2022. Norfolk Southern had long-term debt of $14,449 million at the end of the second quarter compared with $13,691 million in March 2022.
During the reported quarter, Norfolk Southern paid dividends worth $294 million.
Delta AirLines’ (DAL - Free Report) second-quarter 2022 earnings (excluding 29 cents from non-recurring items) of $1.44 per share fell short of the Zacks Consensus Estimate of $1.71. Escalated operating expenses induced the earnings miss. Multiple flight cancellations in May and June also hurt results. The earnings miss disappointed investors, resulting in the stock shedding value in early trading. In the year-ago quarter, Delta incurred a loss of $1.07 per share when air-travel demand was not as buoyant as in the current scenario.
DAL’s revenues came in at $13,824 million, which not only beat the Zacks Consensus Estimate of $13,608.9 million and soared 94% from the year-ago quarter’s figure as air-travel demand rebounded from the pandemic lows. The uptick in air-travel demand in the United States can be gauged from the fact that 75.9% of second-quarter 2022 passenger revenues came from the domestic markets.
J.B. Hunt Transport Services, Inc. (JBHT - Free Report) reported better-than-expected second-quarter 2022 results, wherein both earnings and revenues outperformed the Zacks Consensus Estimate.
JBHT’squarterly earnings of $2.42 per share surpassed the Zacks Consensus Estimate of $1.61 and improved 50.3% year over year.
JBHT’stotal operating revenues of $3,837.53 million also outperformed the Zacks Consensus Estimate of $2,908.37 million. The top line jumped 32% year over year on the back of strength across all segments. JBHT’s total operating revenues, excluding fuel surcharges, rose 21.2% year over year.
CSX Corporation (CSX - Free Report) ) reported better-than-expected second-quarter 2022 results, wherein both earnings and revenues outperformed the Zacks Consensus Estimate.
CSX’s quarterly earnings of 50 cents per share (excluding 4 cents from non-recurring items) beat the Zacks Consensus Estimate of 47 cents and improved 25% year over year.
CSX’s total revenues of $3,815 million outperformed the Zacks Consensus Estimate of $2,990 million. The top line increased 28% year over year on the back of higher revenues in almost all markets, driven by pricing gains, fuel surcharge, and contribution from the acquisition of Quality Carriers. CSX’s overall revenues per unit increased 27%.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Norfolk Southern (NSC) Q2 Earnings & Revenues Top, Rise Y/Y
Norfolk Southern Corporation (NSC - Free Report) reported better-than-expected second-quarter 2022 results, wherein both earnings and revenues outperformed the Zacks Consensus Estimate.
Quarterly earnings of $3.45 per share surpassed the Zacks Consensus Estimate of $3.44. Moreover, the bottom line improved 5.2% year over year.
Railway operating revenues in the quarter under review came in at $3,250 million, outperforming the Zacks Consensus Estimate of $3,135.1 million. The top line increased 16.1% year over year, with all key segments — merchandise, intermodal and coal — registering improvement in revenues. Revenue per unit rose 16% year over year. Total volumes declined 5% year over year due to network challenges.
Income from railway operations climbed 9% year over year to $1,271 million. Railway operating expenses shot up 21% on a year-over-year basis to $1,979 million, primarily due to higher expenses on fuel and purchased services. Norfolk Southern’s operating ratio (operating expenses as a percentage of revenues) deteriorated to 60.9% in the second quarter from 58.3% in the year-ago quarter, owing to higher revenues.
Norfolk Southern Corporation Price, Consensus and EPS Surprise
Norfolk Southern Corporation price-consensus-eps-surprise-chart | Norfolk Southern Corporation Quote
Segmental Performance
Merchandise revenues climbed 10% year over year to $1,853 million. Volumes declined 1% while revenue per unit ascended 12% year over year.
Intermodal revenues augmented 21% year over year to $972 million. While segmental volumes decreased 4%, revenue per unit ascended 27%.
Coal revenues totaled $425 million, up 34% year over year. Coal volumes dipped 4%. Revenue per unit jumped 39% in the reported quarter.
Liquidity, Dividends & Share Buyback
Norfolk Southern exited the second quarter with cash and cash equivalents of $1,259 million compared with $1,571 million at the end of March 2022. Norfolk Southern had long-term debt of $14,449 million at the end of the second quarter compared with $13,691 million in March 2022.
During the reported quarter, Norfolk Southern paid dividends worth $294 million.
Currently, Norfolk Southern carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performance of Other Transportation Companies
Delta AirLines’ (DAL - Free Report) second-quarter 2022 earnings (excluding 29 cents from non-recurring items) of $1.44 per share fell short of the Zacks Consensus Estimate of $1.71. Escalated operating expenses induced the earnings miss. Multiple flight cancellations in May and June also hurt results. The earnings miss disappointed investors, resulting in the stock shedding value in early trading. In the year-ago quarter, Delta incurred a loss of $1.07 per share when air-travel demand was not as buoyant as in the current scenario.
DAL’s revenues came in at $13,824 million, which not only beat the Zacks Consensus Estimate of $13,608.9 million and soared 94% from the year-ago quarter’s figure as air-travel demand rebounded from the pandemic lows. The uptick in air-travel demand in the United States can be gauged from the fact that 75.9% of second-quarter 2022 passenger revenues came from the domestic markets.
J.B. Hunt Transport Services, Inc. (JBHT - Free Report) reported better-than-expected second-quarter 2022 results, wherein both earnings and revenues outperformed the Zacks Consensus Estimate.
JBHT’squarterly earnings of $2.42 per share surpassed the Zacks Consensus Estimate of $1.61 and improved 50.3% year over year.
JBHT’stotal operating revenues of $3,837.53 million also outperformed the Zacks Consensus Estimate of $2,908.37 million. The top line jumped 32% year over year on the back of strength across all segments. JBHT’s total operating revenues, excluding fuel surcharges, rose 21.2% year over year.
CSX Corporation (CSX - Free Report) ) reported better-than-expected second-quarter 2022 results, wherein both earnings and revenues outperformed the Zacks Consensus Estimate.
CSX’s quarterly earnings of 50 cents per share (excluding 4 cents from non-recurring items) beat the Zacks Consensus Estimate of 47 cents and improved 25% year over year.
CSX’s total revenues of $3,815 million outperformed the Zacks Consensus Estimate of $2,990 million. The top line increased 28% year over year on the back of higher revenues in almost all markets, driven by pricing gains, fuel surcharge, and contribution from the acquisition of Quality Carriers. CSX’s overall revenues per unit increased 27%.