Originally published at www.seclive.com
Norfolk Southern Corp. (NSC) announced its third quarter 2013 financial results, reporting net income that increased 20%. Railway revenues improved 5% from a year ago to $2.8B thanks in part to a 4% increase in shipping volumes. Intermodal revenue increased 7% from a year ago to $605M on a 5% increase in volumes. Earnings were $482M, or $1.53 per share, up 20% from $402M and $1.24 per share a year ago. CEO Wick Moorman remarked that Norfolk Southern had a strong quarter and despite a lagging coal market, the company has been able to deliver quality results for its customers and shareholders. Norfolk Southern operates 20,000 miles of rail and serves every major seaport in the eastern United States.
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