Norfolk Southern results head south

RAILROAD Norfolk Southern Corporation has announced that its third quarter results for 2012 are likely to be below its third quarter results last year.
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Courtesy Norfolk Southern.

Staff Reporter

It expects earnings to be in the range of $1.18 to $1.25 per diluted share, largely due to volume declines in certain markets and lower revenues from fuel surcharges.

Coal and merchandise shipments, while partly offset by intermodal volumes, are together expected to reduce revenue by about $120 million compared with the 2011 third quarter.

Fuel surcharge revenues are anticipated to be about $80 million below the same period last year.

The company pointed out that its Q3 2011 fuel surcharge had a favorable lag effect of $52 million.

Results for this quarter, though, are expected to be hit by an unfavorable lag effect of $25 to $30 million.

Norfolk Southern’s Norfolk Southern Railway subsidiary operates about 20,000 route miles in 22 states and the District of Columbia.

It operates the most extensive intermodal network in the east and is major coal transporter.

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