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Norfolk Southern Corporation (NSC-1.43%) has submitted its 10-K filing for the fiscal year ended December 31, 2024.
The filing reports total railway operating revenues of $12.1 billion for 2024, a slight decrease from $12.2 billion in 2023. The decline is attributed to lower fuel surcharge revenue and adverse mix, despite increased volume.
Railway operating expenses decreased to $8.1 billion from $9.3 billion in 2023. The reduction was primarily due to lower net expenses related to the Eastern Ohio Incident and decreased fuel prices.
Net income for 2024 was $2.6 billion, up from $1.8 billion in 2023. The increase was driven by reduced operating expenses and gains from property sales.
Norfolk Southern reported a railway operating ratio of 66.4% in 2024, an improvement from 76.5% in 2023.
The company addressed the Eastern Ohio Incident, recording $325 million in net expenses for 2024, down from $1.1 billion in 2023. Insurance recoveries amounted to $650 million in 2024.
Capital expenditures totaled $4.0 billion, including the acquisition of a railway line from Cincinnati Southern Railway for $1.7 billion.
Norfolk Southern's debt-to-total capitalization ratio was 54.6% at the end of 2024, compared to 57.3% at the end of 2023.
The company did not repurchase any Common Stock in 2024, while $6.9 billion remains authorized for repurchase under the current program.
Norfolk Southern continues to focus on safety and operational efficiency, with ongoing efforts to improve service and productivity.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Norfolk Southern Corporation annual 10-K report dated February 10, 2025. To report an error, please email earnings@qz.com.