8-KEarnings & ResultsRegulation FD

NORFOLK SOUTHERN CORP 8-K Report, Financial Results (Oct 20, 2004)

Filed October 20, 2004For Securities:NSC

Summary

Norfolk Southern Corporation (NSC) filed an 8-K on October 20, 2004, to report its third-quarter financial results and provide a Regulation FD disclosure. The company issued a press release on October 20, 2004, detailing these results. A key aspect of the disclosure is the presentation of a non-GAAP financial measure, which excludes a non-cash gain related to the Conrail corporate reorganization from the reported third-quarter net income. Management believes this adjusted net income provides a more accurate reflection of ongoing operating performance and is useful for comparisons to prior periods and other industry players. Investors should note that this non-GAAP measure is presented alongside, and not as a substitute for, net income calculated according to U.S. Generally Accepted Accounting Principles (GAAP). The company intends to use this adjusted figure in discussions with analysts and for future performance comparisons.

Key Highlights

  • 1Norfolk Southern Corporation (NSC) filed an 8-K on October 20, 2004, to disclose third-quarter results.
  • 2The filing includes a press release dated October 20, 2004, detailing operational and financial outcomes for the third quarter.
  • 3NSC is presenting a non-GAAP financial measure, excluding a non-cash gain from the Conrail corporate reorganization.
  • 4Management believes this adjusted net income is a better indicator of operating performance for comparative analysis.
  • 5The non-GAAP measure is presented in addition to, and not as a replacement for, GAAP-reported net income.
  • 6The company intends to utilize this non-GAAP metric in analyst meetings and future comparisons.

Frequently Asked Questions

The primary purpose of this 8-K filing is to report Norfolk Southern Corporation's third-quarter financial results for 2004 and to provide a Regulation FD disclosure related to these results.

The press release highlights the company's third-quarter results and specifically points out a non-GAAP financial measure. This measure excludes a non-cash gain stemming from the Conrail corporate reorganization from the reported net income.

Norfolk Southern is presenting a non-GAAP financial measure because management believes it offers a clearer view of the company's ongoing operating results, making it more useful for comparing performance against prior periods and other companies in the industry, rather than solely relying on GAAP net income.

Investors should view the non-GAAP financial measure as supplementary information to the GAAP-reported net income. It is intended to provide additional insight into operating performance but should not be considered a substitute for net income calculated according to Generally Accepted Accounting Principles.