Why Norfolk Southern (NSC) Shares Are Sliding Today - Norfolk Southern (NYSE:NSC)

Norfolk Southern Corp NSC reported fourth-quarter FY22 railway operating revenues growth of 13% year-on-year, to $3.24 billion, above the consensus of $3.20 billion.
Merchandise revenue increased 12.2% to $1.8 billion, Intermodal rose 9.8%, and Coal grew 28%.
Total railway operating expenses rose 19.3% to $2 billion. The operating margin was 36.5%, and operating income for the quarter rose 4.6% to $1.2 billion.
The company held $456 million in cash and equivalents as of Dec. 31, 2022. Cash provided by operating activities for the year totaled $4.2 billion.
EPS of $3.42 missed the analyst consensus of $3.44.
"In the fourth quarter and throughout 2022, Norfolk Southern made significant progress in our financial performance, service improvement, and engagement with our craft team members," said CEO Alan H. Shaw.
Norfolk Southern Board approved a 9% increase in its quarterly dividend from $1.24 to $1.35 per share. The dividend is payable on Feb. 21, 2023, to shareholders of record on Feb. 3, 2023.
On Jan. 24, 2023, James A. Squires, a member of the Board of Directors and former CEO, notified he will not stand for re-election to the Board at the 2023 annual meeting of shareholders.
Price Action: NSC shares traded lower by 5.57% at $241.62 on the last check Wednesday.

Norfolk Southern Shares Fall On Q4 Bottom-Line Miss; Hikes Dividend By 9%