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“Clearly, 2013 was a big year for us,” Moorman said.
He cited company records in railway operating revenue, operating income, earnings per share and operating ratio as key measures of performance efficiency.
Regarding 2014, Moorman said: “We came into the new year believing that most of the strength that we saw in our markets in 2013 and particularly in the second half would continue and we still feel that way.”
What the company didn’t see coming, he noted, was the most severe winter in years, which unfavourably affected first-quarter revenues, expenses and service.
“However, I’m happy to report that the Norfolk Southern operating team came through with flying colours,” Moorman said.
“The result is that today our operating metrics are much improved and we are steadily progressing to the high service levels we and our customers enjoyed last year.
“Once the cold weather departed, we saw our business rebound almost immediately.”
He added that it was led by intermodal and energy-related markets, with the auto business also gaining strength.
“I’m confident that 2014 will be another very good year for our company,” he added.
