NS posted Q1 2022 operating revenue of $2.9 billion, up 10% compared with last year's results, driven by a 16% increase in revenue per unit.
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Norfolk Southern Corp. today reported first-quarter 2022 financial results that included first-quarter records for railway operating revenue, income from railway operations, net income and diluted earnings per share.
NS posted Q1 2022 operating revenue of $2.9 billion, up 10% compared with last year's results, driven by a 16% increase in revenue per unit.
Railway operating expenses totaled $1.8 billion, up 13%, due to higher fuel, purchased services and equipment rent costs.
Income from railway operations of $1.1 billion, a first-quarter record, rose 7%. NS reported Q1 2022 net income of $703 million, up from $673 million a year ago, and earnings per diluted share of $2.93 compared with $2.66.
NS posted a Q1 operating ratio of 62.8% compared to 61.5% a year ago.
"Our financial results in the first quarter were solid, despite current network challenges," said President Alan Shaw in a press release. "I am confident that our efforts to improve our service through accelerated hiring and refinements to our operating plan will provide a platform for long-term growth and efficiency for both our customers and shareholders."