Norfolk Southern Corporation NSCreported first-quarter 2018 earnings of $1.93 per share, surpassing the Zacks Consensus Estimate of $1.77. The bottom line also improved 30% on a year-over-year basis. Results were aided by an impressive performance at the.
Railway operating revenues in the quarter under review came in at $2,717 million, above the Zacks Consensus Estimate of $2,681.
Income from railway operations climbed 10% year over year to $835 million. Operating expenses increased 4% year over year to $1.9 billion. Railway operating expenses rose due to higher fuel prices as well as costs related to overall lower network velocity.
Norfolk Southern’s operating ratio (operating expenses as a percentage of revenues) in the first quarter of 2018 came in at 69.3% compared with 70% in the first quarter of 2017.