Norfolk Southern Continues to Grow Its Intermodal Franchise, Reaching Company-Best Operating Ratios
Norfolk Southern achieved record third-quarter operating income, net income, EPS, and operating ratio, resulting in record year-to-date performance in these same metrics. The Eastern rail grew revenue 10%, EBIT 14%, net income 39%, and EPS 44% over the prior-year period. While it was a third-quarter record for NS, the firm’s record 65.4% OR still pales compared with most peers. We maintain our wide moat rating and expect to increase our fair value estimate slightly as we update rate expectations...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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