Norfolk Southern reports 2Q earnings drop - Beckley, Bluefield & Lewisburg News, Weather, Sports

Norfolk Southern reports 2Q earnings drop

Posted: Updated:
  • Local NewsLocal NewsMore>>

  • Crews fight house fire in Fayette County for several hours Saturday

    Crews fight house fire in Fayette County for several hours Saturday

    Saturday, April 19 2014 11:24 PM EDT2014-04-20 03:24:33 GMT
    Crews fought a house fire in Fayette County Saturday evening for several hours. 911 Dispatchers said the call came in of a house fire on Paint Creek Road near Pax around 6:30 p.m. Pax Fire Department and Bradley-Prosperity Fire Department responded along with several other crews. We're told no one was inside the home when the fire happened.
    Crews fought a house fire in Fayette County Saturday evening for several hours. 911 Dispatchers said the call came in of a house fire on Paint Creek Road near Pax around 6:30 p.m. Pax Fire Department and Bradley-Prosperity Fire Department responded along with several other crews. We're told no one was inside the home when the fire happened.
  • Woman and husband charged for unintentional killing of son

    Woman and husband charged for unintentional killing of son

    Woman and husband charged for unintentional killing of son

    Saturday, April 19 2014 10:38 PM EDT2014-04-20 02:38:36 GMT
    A Shinnston woman and her husband have been charged with what authorities are calling the unintentional suffocation of her 3-month-old son.
    A Shinnston woman and her husband have been charged with what authorities are calling the unintentional suffocation of her 3-month-old son.
  • One man shot early Saturday morning in Beckley

    One man shot early Saturday morning in Beckley

    One man shot early Saturday morning in Beckley

    Saturday, April 19 2014 9:22 PM EDT2014-04-20 01:22:04 GMT
         One man is in custody Saturday after a bar shooting in Raleigh County.
         One man is in custody Saturday after a bar shooting in Raleigh County.

Norfolk Southern Corp. reported second-quarter net income of $465 million on July 23, down 11 percent from $524 million for the second quarter of 2012.

Weakness in coal markets affected the company's earnings, as coal revenues were down 17 percent to $626 million in the quarter. The company attributed the drop to reduced global demand for U.S. coal and competition from natural gas.

Railway operating revenues were $2.8 billion, 3 percent lower compared with second-quarter 2012, with shipment volumes increasing 2 percent. Second-quarter 2013 fuel surcharge revenues were $306 million, or $59 million less than the same period last year.

General merchandise revenues were $1.6 billion, 2 percent higher compared with the second quarter of 2012, driven by increased chemical and automotive shipments.

Intermodal revenues increased 4 percent to $588 million compared with the same period of 2012. Volumes increased 5 percent due to continued domestic and international growth.

Railway operating expenses were $2.0 billion, 1 percent higher compared with second-quarter 2012.

Income from railway operations for the second quarter was $836 million, 10 percent lower compared with the same period last year.