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Norfolk Southern Q1 profit climbs 9.2% YOY

Norfolk Southern Corp. said its first-quarter normalized net income amounted to $1.40 per share, compared with the S&P Capital IQ consensus estimate of $1.36 per share.

EPS rose 11.4% year over year from $1.25.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $409.4 million, an increase of 9.2% from $375.0 million in the prior-year period.

The normalized profit margin rose to 15.9% from 15.5% in the year-earlier period.

Total revenue rose 6.4% on an annual basis to $2.58 billion from $2.42 billion, and total operating expenses climbed 6.2% from the prior-year period to $1.80 billion from $1.70 billion.

Reported net income increased 12.4% from the prior-year period to $433.3 million, or $1.48 per share, from $385.6 million, or $1.29 per share.