Norfolk Southern continues solid execution as it benefits from pricing power and growing demand.
We intend to raise our fair value estimate for Norfolk Southern by less than 10% as we increase near-term growth expectations and decrease our U.S. federal statutory tax-rate projections for 2018 and beyond. In the first quarter, Norfolk increased volume 5%, revenue 6%, and EBIT 6%, and produced modest reported margin improvement from the prior-year period to a record 70.0% operating ratio, though it achieved the latter despite the headwind of a 46% higher fuel price per gallon. We maintain our ...Norfolk Southern is a holding company. Through its subsidiaries, the company is engaged in the rail transportation of raw materials, intermediate products, and finished goods primarily in the Southeast, East, and Midwest and, via interchange with rail carriers, to and from the rest of the United States. The company also transports overseas freight through several Atlantic and Gulf Coast ports. The company provides intermodal network in the eastern half of the United States. The company's railroad operates in several states and the District of Columbia. The company's system reaches manufacturing plants, electric generating facilities, mines, distribution centers, transload facilities, and other businesses in its service area.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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