NORFOLK, Va. - Norfolk Southern Corp.'s third quarter 2012 earnings are expected to be in the range of $1.18 to $1.25 per diluted share, primarily due to volume declines in certain markets and lower revenues from fuel surcharges, the company announced Wednesday.
Decreased coal and merchandise shipments, offset in part by growth in intermodal volumes, are together expected to reduce revenues by about $120 million compared with third quarter 2011, according to a news release.
Fuel surcharge revenues are anticipated to be about $80 million below the same period last year. Third quarter 2011 fuel surcharge revenues included a favorable lag-effect of $52 million, whereas results for the current quarter are expected to be impacted by an unfavorable lag-effect in the range of $25 to $30 million.
Norfolk Southern will discuss its expected third quarter performance today during the Citi Global Industrials Conference. It will report earnings and other results after market close on Oct. 23.
Norfolk Southern Corp. is one of the nation's premier transportation companies.
Its Norfolk Southern Railway subsidiary operates about 20,000 route miles in 22 states and the District of Columbia, serves every major container port in the eastern United States, and provides efficient connections to other rail carriers. Norfolk Southern operates the most extensive intermodal network in the East and is a major transporter of coal and industrial products.