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Norfolk Southern Q1 profit falls YOY

Norfolk Southern Corp. said its first-quarter normalized net income was 100 cents per share, compared with the S&P Capital IQ consensus estimate of $1.00 per share.

EPS fell 9.8% year over year from $1.11.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $309.4 million, a decline of 10.6% from $346.3 million in the year-earlier period.

The normalized profit margin fell to 12.1% from 12.9% in the year-earlier period.

Total revenue declined on an annual basis to $2.57 billion from $2.69 billion, and total operating expenses fell on an annual basis to $1.96 billion from $2.02 billion.

Reported net income fell 15.8% on an annual basis to $309.0 million, or 100 cents per share, from $367.0 million, or $1.17 per share.