Norfolk Southern Corp. announced third quarter 2022 financial results which included records for railway operating revenues, income from railway operations, net income, and diluted earnings per share.
Third quarter railway operating revenue was $3.3 billion, an all-time quarterly record, up 17%, or $491 million, compared with third quarter 2021. Officials said revenue was driven by a 20% increase in revenue per unit due to higher fuel surcharges and pricing.
Meanwhile, income from railway operations was $1.3 billion, net income was $958 million, and diluted earnings per share were $4.10.
“In the third quarter, the Norfolk Southern team achieved record financial results and improved service levels for our customers through our robust hiring initiatives and the launch and execution of our new operating plan, TOP|SPG,” said Norfolk Southern President and Chief Executive Officer Alan H. Shaw. “Our entire team is aligned to building on this operational momentum, while ensuring customers remain at the center of our approach, all to deliver value to our shareholders.”