What Was The Extent Of The Impact Of The Decline In Oil Prices On Norfolk Southern’s Q1 Revenue?
Fuel surcharge revenue accounts for a significant portion of Norfolk Southern’s overall revenue. The company’s fuel surcharge revenue is tied to two-month lagged values of either U.S. On-Highway Diesel Prices or WTI Crude Oil prices. As a result of the decline in oil prices over the past twelve months and consequently highway diesel prices, the company’s fuel surcharge revenue declined from an estimated $163 million in Q1 2015 to around $49 million in Q1 2016, accounting for $114 million or roughly 78% of the year-over-year decline in the company’s top line, with the remaining decline attributable to the fall in shipment volumes offset by core pricing gains.
Have more questions about Norfolk Southern? See the links below.
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