Norfolk Southern Reports Second Quarter 2022 Results

Norfolk Southern Corporation today announced second quarter 2022 financial results which included quarterly records for railway operating revenues, income from railway operations, and diluted earnings per share. Second quarter railway operating revenue was $3.3 billion, income from railway operations was $1.3 billion, net income was $819 million, and diluted earnings per share was $3.45.

Second Quarter Summary

  • Railway operating revenues of $3.3 billion were an all-time quarterly record, up 16%, or $451 million, compared with second quarter 2021, driven by a 20% increase in revenue per unit.
  • Railway operating expenses were $2.0 billion, an increase of 21%, or $347 million, compared with the same period last year due to higher fuel prices, lower property sales, and increased costs from inflation and service challenges.
  • Income from railway operations was a record of $1.3 billion, an increase of 9%, or $104 million, year-over-year.
  • The railway operating ratio was 60.9%.

-via Press Release

This article was posted on: July 27, 2022