NORFOLK, Va. (AP) — Norfolk Southern Corp. (NSC) on Wednesday reported fourth-quarter net income of $416 million.
On a per-share basis, the Norfolk, Virginia-based company said it had profit of $1.42.
The results surpassed Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of $1.38 per share.
The railroad posted revenue of $2.49 billion in the period, falling short of Street forecasts. Seven analysts surveyed by Zacks expected $2.5 billion.
For the year, the company reported profit of $1.67 billion, or $5.62 per share. Revenue was reported as $9.89 billion.
Norfolk Southern shares have risen nearly 8 percent since the beginning of the year, while the Standard & Poor’s 500 index has climbed roughly 2 percent. The stock has increased 72 percent in the last 12 months.