Norfolk Southern reports first quarter 2025 results
Norfolk Southern (NYSE: NSC) reported its Q1 2025 financial results, showing resilient performance despite weather challenges. The company achieved revenue of $3.0 billion and railway operating income of $1.1 billion. Excluding the Eastern Ohio incident, adjusted income from railway operations was $961 million with an operating ratio of 67.9%.
Key highlights include:
- Diluted EPS of $3.31, with adjusted EPS of $2.69 (up 8% year-over-year)
- Operating ratio improved by 200 basis points to 67.9% (adjusted)
- Railway operating revenues excluding fuel surcharge reached $2.8 billion (up 2%)
- Volume growth of 1% compared to Q1 2024
The company maintained its full-year guidance while acknowledging macro-economic uncertainty. Insurance recoveries related to the Eastern Ohio incident exceeded incremental costs in the quarter.
Norfolk Southern (NYSE: NSC) ha comunicato i risultati finanziari del primo trimestre 2025, evidenziando una performance solida nonostante le difficoltà legate al maltempo. L'azienda ha registrato un fatturato di 3,0 miliardi di dollari e un reddito operativo ferroviario di 1,1 miliardi di dollari. Escludendo l'incidente nell'Est dell'Ohio, il reddito operativo rettificato è stato di 961 milioni di dollari con un indice operativo del 67,9%.
Punti salienti:
- Utile diluito per azione di 3,31 dollari, con utile rettificato per azione di 2,69 dollari (in crescita dell'8% rispetto all'anno precedente)
- Indice operativo migliorato di 200 punti base, raggiungendo il 67,9% (rettificato)
- I ricavi operativi ferroviari, escluso il sovrapprezzo carburante, hanno raggiunto 2,8 miliardi di dollari (in aumento del 2%)
- Crescita del volume dell'1% rispetto al primo trimestre 2024
L'azienda ha confermato le previsioni per l'intero anno, pur riconoscendo l'incertezza macroeconomica. I rimborsi assicurativi relativi all'incidente nell'Est dell'Ohio hanno superato i costi aggiuntivi sostenuti nel trimestre.
Norfolk Southern (NYSE: NSC) presentó sus resultados financieros del primer trimestre de 2025, mostrando un desempeño resistente a pesar de los desafíos climáticos. La compañía alcanzó ingresos por 3.0 mil millones de dólares y un ingreso operativo ferroviario de 1.1 mil millones de dólares. Excluyendo el incidente en el Este de Ohio, el ingreso operativo ajustado fue de 961 millones de dólares con una ratio operativa del 67.9%.
Puntos clave:
- EPS diluido de 3.31 dólares, con EPS ajustado de 2.69 dólares (un aumento del 8% interanual)
- La ratio operativa mejoró 200 puntos básicos hasta 67.9% (ajustada)
- Los ingresos operativos ferroviarios excluyendo el recargo por combustible alcanzaron 2.8 mil millones de dólares (un aumento del 2%)
- Crecimiento del volumen del 1% en comparación con el primer trimestre de 2024
La empresa mantuvo su guía para todo el año, aunque reconoció la incertidumbre macroeconómica. Las recuperaciones de seguros relacionadas con el incidente en el Este de Ohio superaron los costos adicionales en el trimestre.
Norfolk Southern (NYSE: NSC)는 2025년 1분기 재무 실적을 발표하며 기상 악조건에도 불구하고 견고한 성과를 보였습니다. 회사는 30억 달러의 매출과 11억 달러의 철도 영업이익을 기록했습니다. 동부 오하이오 사고를 제외한 조정된 철도 영업이익은 9억 6100만 달러이며, 영업비율은 67.9%였습니다.
주요 내용은 다음과 같습니다:
- 희석 주당순이익(EPS) 3.31달러, 조정 EPS는 2.69달러로 전년 동기 대비 8% 증가
- 조정 영업비율 67.9%로 200베이시스 포인트 개선
- 연료 할증료 제외 철도 영업수익 28억 달러로 2% 증가
- 2024년 1분기 대비 물동량 1% 증가
회사는 거시경제 불확실성을 인지하면서도 연간 가이던스를 유지했습니다. 동부 오하이오 사고 관련 보험금 회수액이 분기 내 추가 비용을 상회했습니다.
Norfolk Southern (NYSE : NSC) a publié ses résultats financiers du premier trimestre 2025, montrant une performance résiliente malgré les défis météorologiques. La société a réalisé un chiffre d'affaires de 3,0 milliards de dollars et un résultat d'exploitation ferroviaire de 1,1 milliard de dollars. Hors incident dans l'Est de l'Ohio, le résultat d'exploitation ajusté était de 961 millions de dollars avec un ratio d'exploitation de 67,9 %.
Points clés :
- Bénéfice par action dilué de 3,31 $, bénéfice par action ajusté de 2,69 $ (en hausse de 8 % sur un an)
- Amélioration du ratio d'exploitation de 200 points de base à 67,9 % (ajusté)
- Revenus d'exploitation ferroviaire hors surcharge carburant atteignant 2,8 milliards de dollars (en hausse de 2 %)
- Croissance du volume de 1 % par rapport au premier trimestre 2024
La société a maintenu ses prévisions annuelles tout en reconnaissant l'incertitude macroéconomique. Les remboursements d'assurance liés à l'incident dans l'Est de l'Ohio ont dépassé les coûts supplémentaires du trimestre.
Norfolk Southern (NYSE: NSC) meldete seine Finanzergebnisse für das erste Quartal 2025 und zeigte trotz widriger Wetterbedingungen eine widerstandsfähige Leistung. Das Unternehmen erzielte Umsatzerlöse von 3,0 Milliarden US-Dollar und ein Betriebsergebnis im Eisenbahnbetrieb von 1,1 Milliarden US-Dollar. Ohne den Vorfall im östlichen Ohio betrug das bereinigte Betriebsergebnis 961 Millionen US-Dollar bei einer Betriebskostenquote von 67,9 %.
Wichtige Highlights:
- Verwässertes Ergebnis je Aktie (EPS) von 3,31 US-Dollar, bereinigtes EPS von 2,69 US-Dollar (plus 8 % gegenüber dem Vorjahr)
- Betriebskostenquote verbesserte sich um 200 Basispunkte auf 67,9 % (bereinigt)
- Eisenbahnerlöse ohne Treibstoffzuschlag erreichten 2,8 Milliarden US-Dollar (plus 2 %)
- Volumenwachstum von 1 % im Vergleich zum ersten Quartal 2024
Das Unternehmen bestätigte seine Jahresprognose, räumte jedoch makroökonomische Unsicherheiten ein. Versicherungsrückerstattungen im Zusammenhang mit dem Vorfall in Ost-Ohio überstiegen die zusätzlichen Kosten im Quartal.
- 8% growth in adjusted earnings per share to $2.69
- 200 basis point improvement in adjusted operating ratio to 67.9%
- 2% revenue growth excluding fuel surcharge
- 1% volume growth year-over-year
- Insurance recoveries exceeded Eastern Ohio incident costs
- Overall revenue declined by $11 million compared to Q1 2024
- Lower fuel surcharge revenue compared to prior year
- Weather-related disruptions impacted operations
- Macro-economic uncertainty noted in outlook
Insights
Norfolk Southern delivered solid 8% adjusted EPS growth and 200 basis point operating ratio improvement despite weather challenges.
Norfolk Southern's Q1 2025 results demonstrate operational resilience amid seasonal disruptions. The company reported
When adjusted for this one-time benefit, performance remains strong with
Volume growth of
Norfolk Southern's service improvements are driving market share gains and operational efficiencies despite Q1 weather disruptions.
Norfolk Southern's
CEO Mark George's statement that "service performance is increasing our customers' confidence in Norfolk Southern and allowing us to gain share" highlights a critical industry dynamic – service reliability directly correlates with customer retention and market share growth. The
The
Delivers adjusted net income and EPS growth of
Reiterates full-year guidance while recognizing macro-economic uncertainty
After adjusting the results to exclude the
Insurance recoveries related to the
"The Thoroughbred team once again demonstrated tremendous resilience in the quarter, overcoming a disruptive winter storm season to deliver an improved operating ratio, earnings growth, and a consistent service experience for our customers," said President and CEO Mark George. "I'd like to thank our entire team of dedicated railroaders for their outstanding efforts to generate these results. Our service performance is increasing our customers' confidence in Norfolk Southern and allowing us to gain share."
First Quarter Summary
- Railway operating revenues of
$3.0 billion $11 million - Excluding the impact of fuel surcharge revenue, which was lower compared to the prior year, railway operating revenues were
$2.8 billion $47 million 2% , compared to adjusted first quarter of 2024, on volume growth of1% .
- Income from railway operations was
$1.1 billion $933 million - Adjusting for the
Eastern Ohio incident, income from railway operations was$961 million $57 million 6% , compared to adjusted first quarter 2024.
- Operating ratio in the quarter was
61.7% compared to92.9% in first quarter 2024. - Adjusting for the
Eastern Ohio incident, the operating ratio for the quarter was67.9% . This represents 200 basis points of improvement from adjusted first quarter 2024 which was69.9% .
- Diluted earnings per share were
$3.31 $0.23 - Adjusting for the
Eastern Ohio incident, diluted earnings per share were$2.69 $0.20 8% , compared to adjusted first quarter 2024.
About Norfolk Southern
Since 1827, Norfolk Southern Corporation (NYSE: NSC) and its predecessor companies have safely moved the goods and materials that drive the
Cautionary Statement on Forward-Looking Statements
Certain statements in this press release are "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, as amended. These statements relate to future events or our future financial performance and involve known and unknown risks, uncertainties, and other factors that may cause our actual results, levels of activity, performance, or our achievements or those of our industry to be materially different from those expressed or implied by any forward-looking statements. In some cases, forward-looking statements may be identified by the use of words like "may," "will," "could," "would," "should," "expect," "anticipate," "believe," "project," or other comparable terminology. While the Company has based these forward-looking statements on those expectations, assumptions, estimates, beliefs, and projections it views as reasonable, such forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which involve factors or circumstances that are beyond the Company's control, including but not limited to: (i) changes in domestic or international economic, political or business conditions, including those impacting the transportation industry; (ii) the Company's ability to successfully implement its operational, productivity, and strategic initiatives; (iii) a significant adverse event on our network, including but not limited to a mainline accident, discharge of hazardous material, or climate-related or other network outage; (iv) the outcome of claims, litigation, governmental proceedings, and investigations involving the Company, including those with respect to the
Non-GAAP Financial Measures
Information included within this press release contains non-GAAP financial measures, including revenues less fuel surcharges, adjusted income from railway operations, adjusted operating ratio, and adjusted diluted earnings per share. Non-GAAP financial measures should be considered in addition to, not as a substitute for, the financial measures reported in accordance with
Our first quarter 2025 and 2024 non-GAAP financial results exclude the effects of the Eastern Ohio Incident (the Incident). Our first quarter 2024 non-GAAP financial results also exclude the effects of certain expenses related to restructuring and other charges, shareholder advisory costs, and a deferred tax adjustment. The following table adjusts our first quarter 2025 and first quarter 2024 GAAP financial results to exclude the effects of those items. In addition, railway operating revenues less fuel surcharge revenue is a non-GAAP financial measure and provided as supplemental information for investors in regard to the Company's revenue trends by excluding the volatility introduced by fuel surcharges and is useful for period-over-period comparisons of these trends. The income tax effects of the non-GAAP adjustments were calculated based on the applicable tax rates to which the non-GAAP adjustments related. We use these non-GAAP financial measures internally and believe this information provides useful supplemental information to investors to facilitate making period-to-period comparisons by excluding these costs. While we believe that these non-GAAP financial measures are useful in evaluating our business, this information should be considered as supplemental in nature and is not meant to be considered in isolation from, or as a substitute for, the related financial information prepared in accordance with GAAP. In addition, these non-GAAP financial measures may not be the same as similar measures presented by other companies. Information about the adjustments that are not currently available to us could have a potentially unpredictable and significant impact on future GAAP results. Further information about the Company's non-GAAP measures are available on our website at www.norfolksouthern.com on the Investors page under Events and Presentations.
($ in millions, except per share amounts) | First | |||
Quarter 2025 | ||||
Railway operating revenues | $ | 2,993 | ||
Less: fuel surcharge revenues | (202) | |||
Railway operating revenues less fuel surcharge revenues | $ | 2,791 | ||
Income from railway operations | $ | 1,146 | ||
Effect of | (185) | |||
Adjusted income from railway operations | 961 | |||
Operating ratio | 61.7 % | |||
Effect of | 6.2 % | |||
Adjusted operating ratio | 67.9 % | |||
Diluted earnings per share | $ | 3.31 | ||
Effect of | (0.62) | |||
Adjusted diluted earnings per share | $ | 2.69 | ||
($ in millions except per share amounts) | First | |||
Quarter 2024 | ||||
Railway operating revenues | $ | 3,004 | ||
Less: fuel surcharge revenues | (260) | |||
Railway operating revenues less fuel surcharge revenues | $ | 2,744 | ||
Income from railway operations | $ | 213 | ||
Effect of the Incident and restructuring and other charges | 691 | |||
Adjusted income from railway operations | $ | 904 | ||
Operating ratio | 92.9 % | |||
Effect of the Incident and restructuring and other charges | (23.0 %) | |||
Adjusted operating ratio | 69.9 % | |||
Diluted earnings per share | $ | 0.23 | ||
Effect of the Incident, restructuring and | 2.26 | |||
Adjusted diluted earnings per share | $ | 2.49 | ||
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SOURCE Norfolk Southern Corporation
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