Norfolk Southern reported profit in 2012 was $1.75 billion, dropping 8.7 percent from $1.92 billion in 2011, but still its second-best result ever.
The Class I railroad's revenue and operating income also were down slightly from 2011 but still better than other years. “It was a successful year for us in many respects, even though comparisons are challenging against 2011, our best year ever,” said Wick Moorman, NS chairman, president and CEO, in the company’s 2012 annual report.
Coal shipments were down 13 percent for the year, but total traffic volume was basically flat compared with 2011, Moorman added. Meanwhile, intermodal volume increased 5 percent year-over-year and general merchandise volume was up 2 percent.
“I continue to have a very positive outlook for our business,” he said. “Our railroad is running well, and we have demonstrated resilience in the face of a slow economic recovery.”