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Bear Stearns Transportation Conference May 8, 2007 New York, New York PowerPoint Presentation
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Bear Stearns Transportation Conference May 8, 2007 New York, New York James A. Squires Executive Vice President Finance Railway Operating Revenue First Quarter 2007 vs. 2006 Total - $2.247 Billion Down $56 Million, 2% vs. 1Q 2006 19 consecutive quarters of growth 2Q 2002 – 4Q 2006

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slide1

Bear Stearns Transportation ConferenceMay 8, 2007New York, New York

James A. Squires

Executive Vice President Finance

railway operating revenue first quarter 2007 vs 2006
Railway Operating RevenueFirst Quarter 2007 vs. 2006

Total- $2.247 Billion

Down $56 Million, 2% vs. 1Q 2006

  • 19 consecutive quarters of growth 2Q 2002 – 4Q 2006
  • Declines driven by volume and mix
  • 4% net pricing gain

Coal

$557

(0%)

Merchandise

$1,228

Intermodal

$462

(4%)

(1%)

Rev. $Millions

slide3

Income From Railway OperationsFirst Quarter 2007 vs. 2006($ Millions)

Favorable

(Unfavorable)

First Qtr

2007

First Qtr

2006

$ %

Railway Operating Revenues $ 2,247 $ 2,303 $ (56)(2%)

Railway Operating Expenses 1,719 1,752 33 2

Income From Railway Operations $ 528 $ 551 $ (23)(4%)

Railway Operating Ratio 76.5 76.1 (0.4)(1%)

slide4

Net Income and Diluted Earnings per ShareFirst Quarter($ Millions except per share)

Net Income

Diluted Earnings per Share

$ 305

$ 285

$ 0.72

$ 0.71

2006 2007 2006 2007

% Change vs. Prior Period - 7% - 1%

slide5

Freight Transportation Environment

Highway Congestion/Port Congestion

Driver Shortages in Trucking

Historically High Fuel Costs

slide6

Capital Expenditures($ Millions)

$ 1,340

$ 1,178

$ 1,041

$ 1,025

$ 720

2003 2004 2005 2006 2007

Budget

norfolk southern union pacific expand intermodal service
UP and NS to offer fastest service between Southern California and Southeast

UP-NS eastbound domestic transcontinental service will move over Shreveport starting May 21

New route combines UP Sunset Route and KCS-NS route between Shreveport and Meridian

Norfolk Southern & Union Pacific Expand Intermodal Service
share repurchase program
Share Repurchase Program
  • Share repurchase program originally authorized in November 2005
  • Program amended to increase number of shares from 50 to 75 million and shorten term by five years
  • 27.4 million shares repurchased for $1.2 billion,including 5.6 million shares in first quarter 2007