Norfolk Southern Shares Pop After Q1 Results Beat Estimates

  • Norfolk Southern Corp NSC reported first-quarter FY22 railway operating revenue growth of 10% year-over-year to $2.9 billion, beating the consensus of $2.84 billion.
  • Revenue was driven by a 16% increase in revenue per unit.
  • Sales by segments: Merchandise $1.67 billion (+3.9% Y/Y), Intermodal $854 million (+18.9% Y/Y) and Coal $389 million (+24.7% Y/Y).
  • Income from railway operations increased by 6.9% Y/Y to $1.09 billion, and the margin contracted 124 basis points to 37.2%.
  • EPS improved to $2.93 from $2.66 in 1Q21, beating the consensus of $2.92.
  • The railway operating ratio was 62.8%, an improvement of 130 bps compared to 1Q21.
  • Norfolk Southern generated a Q1 operating cash flow of $994 million, compared to $1.02 billion a year ago.
  • FY22 Outlook: Norfolk Southern expects revenue to grow upper single-digit year-over-year and 50-100 bps improvement in operating ratio.
  • Price Action: NSC shares traded higher by 2.66% at $261.42 on the last check Wednesday.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsGuidanceMoversTrading IdeasBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!