UBS Upgrades Norfolk Southern (NSC) to Buy
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Norfolk Southern reports strong first-quarter 2016 results
April 21, 2016 4:16 PM EDTNORFOLK, Va., April 21, 2016 /PRNewswire/ --Â Â
FIRST-QUARTER 2016 RESULTS
Railway operating revenues totaled $2.4 billion, down 6 percent year-over-year. Railway operating expenses were $1.7 billion, down 13 percent year-over-year on the 2 percent reduction in traffic volumes. Income from railway operations was $723 million, up 19 percent year-over-year. Net income was $387 million, up 25 percent year-over-year. Diluted earnings per share were $1.29, up 29 percent year-over-year. Railway operating ratio was 70.1 percent, an improvement of 8 percent over the prior year and a Norfolk Southern first-quarter record.Norfolk Southern Corporation (NYSE: NSC) today reported... More
