8-KEarnings & ResultsRegulation FD

NORFOLK SOUTHERN CORP 8-K Report, Financial Results (Jul 27, 2005)

Filed July 27, 2005For Securities:NSC

Summary

Norfolk Southern Corporation (NSC) filed an 8-K on July 27, 2005, to report its second quarter 2005 financial results. The filing primarily serves to attach a press release detailing these results, which includes a focus on non-GAAP financial measures. Management has chosen to exclude the impact of Ohio tax legislation and settlements of two coal rate cases from reported net income and diluted earnings per share for the second quarter of 2005. This presentation of results aims to provide a clearer comparison to prior periods and other companies, as management believes these adjusted figures are more indicative of ongoing operating performance. Investors should pay close attention to the reconciliation provided within the press release to understand the specific adjustments and their impact on the reported earnings.

Key Highlights

  • 1NSC filed an 8-K on July 27, 2005, announcing its second quarter 2005 financial results.
  • 2The 8-K filing includes a press release as an exhibit, detailing the company's earnings.
  • 3Management is presenting non-GAAP financial measures, excluding specific items for comparability.
  • 4Excluded items include the effects of Ohio tax legislation and settlements of two coal rate cases from Q2 2005 net income and EPS.
  • 5The company intends to use these non-GAAP measures for comparison purposes, including analyst meetings.
  • 6Investors are advised to review the reconciliations provided in the press release for a full understanding of the adjustments.

Frequently Asked Questions

The main purpose of this 8-K filing is to publicly disseminate Norfolk Southern's second quarter 2005 financial results and to attach the accompanying press release.

Norfolk Southern is emphasizing non-GAAP financial measures. Specifically, they are presenting net income and diluted earnings per share that exclude the impact of Ohio tax legislation and settlements of two coal rate cases for the second quarter of 2005.

Management believes that excluding the effects of Ohio tax legislation and coal rate case settlements from the reported figures provides a clearer indication of operating results. This allows for better comparison to prior periods and other companies, and they intend to use these measures in future comparisons and presentations.

The details and reconciliations of the non-GAAP financial measures, showing how net income and diluted earnings per share are adjusted, are provided within the press release dated July 27, 2005, which is attached as Exhibit 99 to this 8-K filing.