|
|||||
|
NS Rolls in Third Quarter  Reprint permission
Norfolk Southern's third quarter revenue of $1.9 billion and operating income of $469 million both set records and were driven by heavy merchandise and intermodal volumes in one of the strongest peak shipping seasons ever. The railroad was able to pare down its operating ratio - a measure of operating efficiency - 5.8 percentage points from the same period last year to 74.7 percent, compared to the industry average in second quarter 2004 of 80.1. "By any measure, this was an extremely strong quarter for our company," said NS chairman and chief executive officer David R. Goode. "We demonstrated uniform strength in the face of a robust peak traffic season, and our people and network performed well." All merchandise markets reported revenue gains compared with the same period last year. Coal revenues increased 20 percent to $447 million in the quarter, driven principally by export and utility coal. Intermodal revenues grew 28 percent to a record $404 million in the third quarter and were up 21 percent to a record $1.1 billion for the first nine months compared to the same periods of 2003. Increased volumes and higher average revenues helped drive the growth, NS said.
|
|||||
