Earnings update: Johnson Controls, Knight Transportation, Norfolk Southern, TE Connectivity
Four nonfinancial companies with Central Pennsylvania operations reported quarterly earnings today.
Milwaukee-based Johnson Controls Inc., which has operations in York County, reported net income of $261 million, or 39 cents per diluted share, in its fiscal second quarter, which ended March 31. That was up from $164 million and 24 cents per diluted share in the same quarter a year ago.
Johnson Controls is a global company creating products and services for the energy and operational efficiencies of buildings, batteries for vehicles and interior systems for automobiles.
The company is building a new campus in southern York County estimated at more than $150 million.
Phoenix-based Knight Transportation Inc., a national trucking company with a Northeast facility in Middlesex Township, reported first-quarter net income of $19.1 million, or 23 cents per diluted share, compared to $15.2 million, or 19 cents per diluted share, in the first three months of 2013.
The company's first quarter ended March 31.
Virginia-based Norfolk Southern Corp. reported first-quarter net income of $368 million, or $1.17 per diluted share, compared with $450 million, or $1.41 per diluted share, earned in the same period of 2013.
The company's quarter ended March 31.
Norfolk Southern has significant railway operations in the Harrisburg area. The company completed a $28.6 million expansion of its Harrisburg intermodal facility last year. It is currently working on a $60.5 million expansion of its Rutherford facility in Swatara Township.
The latter, which is slated for completion in the third quarter of 2015, will add three pad tracks and 10 support lines. The project will boost annual lift capacity to nearly 350,000 intermodal boxes, meaning trailers transferred between trains and trucks.
Intermodal revenue was $596 million, up 4 percent compared with the first quarter of 2013.
Shares of Norfolk Southern are traded on the NYSE under the ticker symbol NSC.
Switzerland-based TE Connectivity Ltd., which has engineering and administrative offices in Central Pennsylvania, reported fiscal second-quarter net income of $362 million, or 87 cents per diluted share, compared with $277 million, or 65 cents per diluted share, in the same quarter a year ago.
The company's quarter ended March 28.
The electronic components maker trades its shares on the NYSE under the ticker symbol TEL.