Norfolk Southern Corp, in their recent announcement, reported a decrease in earnings from last year's first quarter, falling short of Wall Street's expectations.
The company's net income amounted to $53 million, translating to $0.23 per share. This is a significant reduction from $466 million, or $2.04 per share, obtained in the first quarter of last year.
When items are excluded, the adjusted earnings of Norfolk Southern Corp amounted to $565 million, or $2.49 per share for the said period.
According to figures compiled by Thomson Reuters, analysts had on average anticipated an earning of $2.58 per share for the company. Commonly, these estimates are exclusive of special items.
The revenue of the company for the quarter also experienced a downfall of 4.2%, dropping to $3.00 billion from last year's $3.13 billion.
To provide a summary, under Generally Accepted Accounting Principles (GAAP), the earnings were as follows:
- Earnings for Q1: $53 million as compared to $466 million last year.
- Earnings Per Share for Q1: $0.23 as opposed to $2.04 of last year.
- Revenue for Q1: $3.00 billion as compared to $3.13 billion earned last year.
