Norfolk Southern (NSC) Beats on Q2 Earnings
Norfolk Southern Corporation NSC reported second-quarter 2018 earnings per share of $2.50, beating the Zacks Consensus Estimate of $2.31. Earnings increased 46% on a year-over-year basis.
How Was the Estimate Revision Trend?
Investors should note that the earnings estimate revisions for Norfolk Southern depicted a healthy picture prior to the earnings release. The stock had seen the Zacks Consensus Estimate for second-quarter earnings being revised 3.1% upward over the last 30 days.
Moreover, Norfolk Southern has an impressive earnings surprise history. The company delivered positive surprises in each of the past four quarters with an average beat of 7.1%.
Revenues Better Than Expected
Norfolk Southern recorded railway operating revenues of $2,898 million, which surpassed the Zacks Consensus Estimate of $2,853.6 million. Moreover, it compared favorably with the year ago figure of $2,637 million.
Key Q2 Statistics: Norfolk Southern revealed that operating ratio (operating expenses as a percentage of revenues) in the reported quarter was a record 64.6%. Overall volumes grew 6% on the back of growth in all the three segments.
Zacks Rank: Currently, Norfolk Southern carries a Zacks Rank #2 (Buy) which is subject to change following the earnings announcement. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Check back later for our full write up on this Norfolk Southern earnings report later!
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