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Norfolk Southern Corporation today reported fourth-quarter and full-year 2019 financial results.
Net income was $666 million and diluted earnings per share were $2.55 for the fourth quarter and $2,722 million and $10.25, respectively, for the full year. During the first year of a three-year strategic plan, Norfolk Southern produced a record operating ratio of 64.7% while managing the headwinds of a 5% decline in carload volumes.
“Norfolk Southern’s strong financial performance in a year of macroeconomic headwinds is underpinned by the hard work of our team to expeditiously implement productivity initiatives throughout the year,” said James A. Squires, Norfolk Southern chairman, president and CEO. “With efficiency-related cost savings gaining steam in the third quarter and increasing in the fourth quarter, we achieved a record full-year operating ratio while also producing all-time best delivery performance for customers. This was the result of extensive systemwide planning integrated with customer communications during the first half of the year that created a foundation for the flawless execution of the initial two phases of our PSR-based operating plan, TOP21, in the second half. The momentum we’re carrying into 2020 will support continued value creation as we remain dedicated to the operational transformation of our business while ensuring we have a platform for growth as we look beyond the current freight cycle.”
More RT&S Class 1 stories
For other Class 1 earnings reports, please visit the following links:
Union Pacific fourth-quarter and full-year 2019 results
Kansas City Southern fourth-quarter and full-year 2019 results
CSX fourth-quarter and full-year 2019 results
Canadian Pacific fourth-quarter and full-year 2019 results
Canadian National fourth-quarter and full-year 2019 results
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