Norfolk Southern Jan 25 reported a 31 percent increase in fourth quarter profit (versus fourth quarter 2009) and a 45 percent increase in calendar-year 2010 profit.
NS also reported a 5 percentage point improvement in its 2010 operating ratio, which declined to 71.9 percent. Operating ratio — a railroad’s operating expenses expressed as a percentage of operating revenue — is considered by economists to be the basic measure of carrier profitability.
Additionally, NS increased its quarterly dividend on common stock Jan 25 by 11 percent — the second NS dividend increase of 2010.
“We have every reason to believe that 2011 will be an even stronger year for us,” said NS CEO Wick Moorman.
The company also said FedEx has selected NS as its primary eastern rail to carry FedEx intermodal (trailers and containers on flat cars).
NS operates 21,000 route miles in 22 states and the District of Columbia.
Related News
- SMART Transportation Division announces members of Bus and Transit Assault Prevention and Safety committee
- SEPTA bus members ratify new contract
- FTA announces random drug and alcohol testing rates for 2024
- Your union needs your social media contributions
- TD members overwhelmingly vote to authorize strike action against SEPTA
- ERMA lifetime maximum benefit to increase in 2024
- California High-Speed Rail Authority pledges to use unionized labor
- Recognizing our women railroaders
- Rail labor organizations urge Biden to renominate Bragg to RRB
- Bills’ advancement in Michigan a step forward for worker assault prevention