‘The Future Looks Good,’ Norfolk Southern CEO Says in Annual Report

NORFOLK, Va. — Coming off its second-best year ever for revenue, operating income, net income, and earnings per share, Norfolk Southern Corp. is positioned well for growth, and “the future looks good,” CEO Wick Moorman tells stockholders in the 2012 annual report, posted today on the company’s website at www.nscorp.com.

“Despite significant challenges in our coal business, we delivered solid results for our shareholders,” Moorman says. “From an operations perspective, the railroad ran extremely well, setting all-time highs for most of our service and velocity metrics. We also continued our strong record of reinvesting in the company, with more than $2.2 billion in capital spending, including completion of some key projects to drive future growth.

“Looking at 2013 and beyond,” Moorman said, “I continue to have a very positive outlook for our business. Our railroad is running well, and we have demonstrated resilience in the face of a slow economic recovery. While the coal business will continue to be a wild card for the immediate future, it traditionally has been a mainstay for Norfolk Southern, and we continue to believe in it long-term.”

Additionally, Moorman said, “We see exciting opportunities in emerging energy markets, such as transporting crude oil by rail, and sand, pipe, and other materials for shale gas production. We are positioned equally well for growth in many of our other businesses, supported by our continuing focus on operating efficiency and productivity.”