UPDATE: Norfolk Southern Posts Better-Than-Expected Q4 Earnings, Revenue Misses View

reported higher-than-expected adjusted earnings for the fourth quarter. The Norfolk, Virginia-based company posted a quarterly profit of $511 million, compared to $513 million, in the year-ago period. Its per-share earnings came in unchanged at $1.64 in the quarter. Its revenue fell to $2.87 billion from $2.88 billion. However, analysts were expecting earnings of $1.63 per share on revenue of $2.94 billion. Coal revenue slipped 15% to $543 million, while coal volumes declined 6%. Intermodal revenue surged 5% to $649 million, while general merchandise revenue rose 3% to $1.7 billion. Income from railway operations surged 1% to $891 million in the quarter,. "Norfolk Southern delivered another solid quarter of financial performance, capping a record-setting year during which our company achieved its best results for revenues, operating income, net income, earnings per share, and operating ratio," said CEO Wick Moorman. "For 2015, we plan to invest $2.4 billion in capital investments to maintain the safety and quality of our rail network, enhance service, improve operational efficiency, and support growth opportunities." Norfolk Southern shares fell 1.23% to close at $104.78 on Friday.