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Norfolk Southern Q2 profit climbs 22.6% YOY

Norfolk Southern Corp. said its normalized net income for the second quarter came to $1.67 per share, compared with the S&P Capital IQ consensus estimate of $1.65 per share.

EPS climbed 24.9% year over year from $1.34.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $487.5 million, a gain of 22.6% from $397.5 million in the prior-year period.

The normalized profit margin climbed to 18.5% from 16.2% in the year-earlier period.

Total revenue climbed 7.5% on an annual basis to $2.64 billion from $2.45 billion, and total operating expenses grew from the prior-year period to $1.75 billion from $1.68 billion.

Reported net income increased 23.2% from the prior-year period to $497.0 million, or $1.71 per share, from $403.4 million, or $1.36 per share.