Norfolk Southern Corporation today announced fourth quarter and full-year 2022 financial results. The company marked fourth quarter and annual records for railway operating revenue and income from railway operations.
Fourth quarter railway operating revenue was $3.2 billion, up 13%, and income from railway operations was $1.2 billion, up 5%.
Fourth Quarter Summary
- Railway operating revenues of $3.2 billion were a fourth quarter record, up 13%, or $385 million, compared with fourth quarter 2021, driven by a 15% increase in revenue per unit.
- Railway operating expenses were $2.1 billion, an increase of 19% compared with the same period last year due to higher fuel prices, increased claims costs, and higher compensation and benefits.
- Income from railway operations was a fourth quarter record of $1.2 billion, up 5%, or $52 million, year-over-year.
- Diluted earnings per share were $3.42, up 10%, or $0.30 compared with fourth quarter 2021.
2022 Summary
- Railway operating revenues were a record $12.7 billion in 2022, up 14%, or $1.6 billion, compared with 2021, driven by an 18% increase revenue per unit.
- Railway operating expenses were $7.9 billion, an increase of 19% compared with the same period last year, driven by higher fuel prices, inflation, network congestion, and higher compensation and benefits.
- Income from railway operations was $4.8 billion, up 8%, or $362 million, year-over-year, an annual record.
- Diluted earnings per share were $13.88, up 15%, or $1.77 compared with 2021.
-via Press Release