|
|
 |
|
Viewing report
|
|
|
|
BULLETIN: Norfolk Southern Reports First-Quarter 2003 Results Apr 03
Standard & Poors, April 2003
Abstract
NEW YORK (Standard & Poor's) April 23, 2003--Norfolk Southern Corp. (BBB/Stable/A-2) reported first-quarter net income from continuing operations before accounting changes of $85 million in 2003, compared with $86 million for the same period of 2002. The company also reported other income of $114 million, the gain largely due to a change in accounting for the cost of removing railroad crossties and a $10 million gain from discontinued operations resulting from the 1998 sale of a former motor carrier subsidiary. Standard & Poor's Ratings Services said that the announcement does not affect its ratings on the company, as the results were in line with Standard & Poor's expectations. Railway operating revenues for the quarter were $1.56 billion, up 4% from...
Companies mentioned in this report are: Norfolk Southern Corp.
Action: S&P Event
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
|
|
|
|
