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Norfolk Southern (NSC) Reports Q3 Earnings: What Key Metrics Have to Say

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For the quarter ended September 2025, Norfolk Southern (NSC - Free Report) reported revenue of $3.1 billion, up 1.7% over the same period last year. EPS came in at $3.30, compared to $3.25 in the year-ago quarter.

The reported revenue compares to the Zacks Consensus Estimate of $3.09 billion, representing a surprise of +0.44%. The company delivered an EPS surprise of +3.77%, with the consensus EPS estimate being $3.18.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

Here is how Norfolk Southern performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
  • Railway Operating Ratio: 64.6% versus 63.7% estimated by four analysts on average.
  • Carloads (Units) - Volume - Total: 1.8 million compared to the 1.8 million average estimate based on three analysts.
  • Carloads (Units) - Volume - Intermodal: 1.03 million compared to the 1.03 million average estimate based on three analysts.
  • Carloads (Units) - Volume - Merchandise: 595.1 thousand versus 589.88 thousand estimated by three analysts on average.
  • Carloads (Units) - Volume - Coal: 176.7 thousand versus the three-analyst average estimate of 179.4 thousand.
  • Railway operating revenues- Merchandise- Agriculture, forest and consumer products: $630 million versus the three-analyst average estimate of $639.63 million. The reported number represents a year-over-year change of +1%.
  • Railway operating revenues- Coal: $375 million versus the three-analyst average estimate of $389.94 million. The reported number represents a year-over-year change of -12.2%.
  • Railway operating revenues- Merchandise- Chemicals: $569 million versus $560.89 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +4.8% change.
  • Railway operating revenues- Intermodal: $759 million versus the three-analyst average estimate of $760.31 million. The reported number represents a year-over-year change of -0.5%.
  • Railway operating revenues- Merchandise- Automotive: $322 million versus the three-analyst average estimate of $299.46 million. The reported number represents a year-over-year change of +17.5%.
  • Railway operating revenues- Merchandise: $1.97 billion versus $1.95 billion estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +5.8% change.
  • Railway operating revenues- Merchandise- Metals and construction: $448 million versus $452.58 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +6.7% change.

View all Key Company Metrics for Norfolk Southern here>>>

Shares of Norfolk Southern have returned -1.6% over the past month versus the Zacks S&P 500 composite's +0.2% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.

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