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Oct. 27, 2021, 8:18 a.m. EDT

Norfolk Southern stock rallies toward 5-month high after profit, revenue beats

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By Tomi Kilgore

Shares of Norfolk Southern Corp. /zigman2/quotes/200877725/composite NSC -2.93% rose 0.8% toward a five-month high in premarket trading Wednesday, after the railroad operator reported third-quarter profit and revenue that rose above expectations, with all of its business segments beating expectations, in the face of "significant supply chain disruptions." Net income was $753 million, or $3.06 a share, after income of $569 million, or $2.22 a share, in the year-ago period. The FactSet consensus for earnings per share was $2.91. Revenue grew 13.8% to $2.85 billion, above the FactSet consensus of $2.75 billion. Total operating expenses increased 3.0% to $1.72 billion, including a 5.4% rise in compensation and benefits to $609 million. Among business segment revenue, Merchandise rose 9.9%, Intermodal grew 16% and Coal climbed 32%. Railway operating ratio improved 630 basis points to 60.2%, but was below the FactSet consensus of 60.6%. The stock, on track to open at the highest level since mid-July, has rallied 9.1% over the past three months through Tuesday, while the Dow Jones Transportation Average /zigman2/quotes/210598063/realtime DJT -3.63% has advanced 10.3% and the Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA -2.53% has gained 2.0%.

/zigman2/quotes/200877725/composite
US : U.S.: NYSE
$ 269.65
-8.13 -2.93%
Volume: 973,499
Nov. 26, 2021 1:10p
P/E Ratio
23.19
Dividend Yield
1.54%
Market Cap
$67.60 billion
Rev. per Employee
N/A
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/zigman2/quotes/210598063/realtime
US : Dow Jones Indices
16,215.65
-610.57 -3.63%
Volume: 207.82M
Nov. 26, 2021 2:12p
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/zigman2/quotes/210598065/realtime
US : Dow Jones Global
34,899.34
-905.04 -2.53%
Volume: 325.39M
Nov. 26, 2021 2:12p
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