According to a report from Reuters, Norfolk Southern said fourth-quarter net income rose 31 percent from a year ago while top executives predict even stronger growth in 2011.
The report reads in part: “Volume has shifted into January and almost every business segment should grow strongly this year.”
Part of the reason for growth is that Norfolk Southern was chosen as the primary Eastern rail carrier for FedEx as FedEx launches a new service to systematically use rail intermodal service for the first time.
“We have every reason to believe that 2011 will be an even stronger year for us” than was 2010, said Norfolk Southern Chief Executive Wick Moorman.
The company expects “strong business growth in almost every segment” this year, particularly coal and intermodal, he said.
The full story is on the Reuters website.