NORFOLK, Virginia -- Railway operator Norfolk Southern Corp.
(NYSE:NSC - news) on Wednesday posted a jump in fourth-quarter
profits, helped by a pickup in coal shipments, a wire service
reports.
Norfolk, which runs freight hauler Norfolk Southern
Railway, as well as transport and telecom businesses, said in a news
release that quarterly net income was $115 million, or 30 cents a
share, including a 3-cent per share gain, up from $5 million, or 1
cent, including an unusual charge.
Wall Street had expected
Norfolk to earn between 20 cents and 26 cents a share, with a
consensus forecast of 23 cents, according to 10 analysts surveyed by
Thomson Financial/First Call.
Rail revenues were $1.53
billion, up from $1.524 billion.
Norfolk Southern shares,
which have ridden a broad rally in rail stocks fueled by hopes of
turnup in the U.S. economy, closed on Tuesday at $19.72, up 32
cents. Norfolk is up about 17 percent over the last 12 months while
the Dow Jones U.S. Total Market Index has fallen about 16 percent.