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Chalk up four financial records for Norfolk Southern Corp. in the first quarter.

Railway operating revenue rose 6 percent to a record $2.8 billion, income from railway operations jumped 24 percent to a new high $745 million, net income climbed 26 percent to a Q1-best $410 million and diluted earnings per share soared 37 percent to a record $1.23 compared with first-quarter 2011 results. In addition, NS’ operating ratio improved 3.8 points to 73.3, equaling a Q1 record.

"The benefits of our steady focus on service and operating efficiency are reflected in our results, and we continue to position our franchise for sustained growth through strategic investments in infrastructure,” said NS Chairman, President and Chief Executive Officer Wick Moorman in a prepared statement.

In terms of revenue generation per commodity group, general merchandise revenue jumped 13 percent to $1.5 billion, coal revenue declined 6 percent to $766 million and intermodal revenue rose 9 percent to $527 million. Revenue per unit increased 5 percent to an average of $1,611 and volume rose 1 percent to 1.73 million units.

Railway operating expenses inched up 1 percent to $2 billion primarily because of higher fuel prices, compensation costs and materials expenses. Fuel costs increased from $389 million in first-quarter 2011 to $413 million.

“Looking ahead, we're committed to driving even higher levels of service performance and efficiencies through continued investments in assets, infrastructure, technology and, most importantly, our people,” said Moorman. "We continue to believe that the United States is on a path of continued, albeit slow, growth. And we feel confident that we can continue to grow our merchandise and intermodal volumes at above the rate of total economic growth.”