Norfolk Southern Railway reported its income in the fourth quarter of 2012 was $413 million, or $1.30 per diluted share, falling 14% from $480 million, or $1.42 per diluted share, earned in the fourth quarter of 2011.
Income from railway operations was $714 million, 11% lower compared with fourth-quarter 2011.
Quarterly railway operating revenue was $2.7 billion, down 4% year-over-year. Intermodal revenue increased to $584 million, 5% higher compared with the fourth quarter of 2011. Traffic volume increased 4% year-over-year in the quarter.
For the full year of 2012, profit was $1.7 billion, or $5.37 per diluted share, dropping 11% from $1.9 billion, or $5.45 per diluted share, earned in 2011. Income from railway operations was $3.1 billion for 2012, 3% lower compared with 2011.
Railway operating revenue in 2012 was $11 billion, a 1% decrease compared with 2011. Intermodal revenues in 2012 reached $2.2 billion, up 5% from 2011, and traffic volume increased 5% year-over-year.
“While the fourth quarter reflected declines in coal shipments, we also saw steady intermodal volume gains coupled with improved volumes in our chemicals, auto and housing sectors,” said Wick Moorman, Norfolk Southern’s CEO, in a written statement.