Norfolk-based Norfolk Southern Corp. saw profits climb 24 percent in the third quarter.
The transportation company said its net income for the period ending Sept. 30 totaled $554 million, up from $445 million in the same quarter last year. Diluted earnings per share reached a record $1.59, compared with $1.19 per share in the third quarter of 2010.
Railway operating revenues were up 18 percent to $2.9 billion, primarily as the result of a 14 percent increase in revenue per unit.
General merchandise revenues were $1.4 billion, 12 percent higher compared with third-quarter 2010 results. Coal revenues increased 27 percent, to $899 million, compared with the same period last year. Intermodal revenues were $551 million, 19 percent higher compared with the third quarter of 2010.
Income from railway operations climbed 26 percent to an all-time record $938 million compared with the same period last year.
The company’s Norfolk Southern Railway subsidiary operates approximately 20,000 route miles in 22 states and the District of Columbia.
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