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Norfolk Southern Corp (NYSE:NSC) shares are trading higher in Thursday’s after-hours session on the heels of the company’s second-quarter financial results. Here’s a rundown of the report.
What Happened: Norfolk Southern reported railway operating revenue of $3 billion, up 2% year-over-year. The company delivered adjusted earnings of $3.06 per share, beating analyst estimates of $2.86 per share, according to Benzinga Pro.
“The Norfolk Southern team delivered strong results, including on operating ratio and expenses, that are directly in-line with the targets we committed to our shareholders,” said Alan Shaw, president and CEO of Norfolk Southern.
“During the quarter, we demonstrated that we are leveraging our service product to secure volume growth, enhancing our safety culture, and accelerating operational improvements, while eliminating service recovery costs,” Shaw noted.
“These results show that our strategy is working and that our momentum is building. We are committed to accomplishing even more in the second half of 2024, and we reaffirm our guidance of a full-year adjusted operating ratio of approximately 66%.”
Norfolk Southern operates a customer-centric and operations-driven freight transportation network, helping move the goods and materials that drive the U.S. economy.
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NSC Price Action: Norfolk Southern shares were up 7.67% after hours at $240 at the time of publication Thursday, according to Benzinga Pro.
Photo: Shutterstock.
Posted In: NSC
