Norfolk Southern Earnings: Here’s Why the Stock is Rising Now
Norfolk Southern Corp. (NYSE:NSC) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are up 0.21%.
Norfolk Southern Corp. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 0.81% to $1.22 in the quarter versus EPS of $1.23 in the year-earlier quarter.
Revenue: Decreased 1.83% to $2.74 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Norfolk Southern Corp. reported adjusted EPS income of $1.22 per share. By that measure, the company beat the mean analyst estimate of $1.17. It missed the average revenue estimate of $2.78 billion.
Quoting Management: “We’re pleased with Norfolk Southern’s first-quarter results, which illustrate our diverse customer base, superior operating performance, productivity initiatives, and expense controls,” said CEO Wick Moorman. “We are working to ensure that our rail franchise continues to thrive regardless of how our business mix changes.”
Key Stats (on next page)…