Norfolk Southern (NSC) Tops Q1 EPS by 33c, Revenues Beat

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Go back to Norfolk Southern (NSC) Tops Q1 EPS by 33c, Revenues Beat

Norfolk Southern reports first-quarter 2020 results, non-cash asset rationalization charge related to PSR implementation

April 29, 2020 8:00 AM EDT

NORFOLK, Va., April 29, 2020 /PRNewswire/ -- Norfolk Southern Corporation (NYSE: NSC) today reported first-quarter financial results of net income equal to $381 million, diluted earnings per share of $1.47, and an operating ratio of 78.4%. These results include a $385 million non-cash locomotive rationalization charge related to the ongoing disposition and marketing of excess locomotives not required for future operations due to the successful introduction of Precision Scheduled Railroading. Excluding the effects of the asset rationalization charge, adjusted first-quarter net income was $669 million, adjusted diluted earnings per share were $2.58, and the adjusted operating ratio improved by 230 basis... More