First look: Norfolk Southern Q3 earnings

Core Insights - Norfolk Southern Corp. reported third quarter income of $1.1 billion on revenue of $3.1 billion, a 2% increase despite flat freight volumes [1] - Diluted earnings per share decreased to $3.16, falling short of Wall Street's forecast range of $3.18 to $3.22 [1] - The earnings report coincided with Union Pacific's earnings announcement, a proposed merger partner [1] Financial Performance - Income from railway operations was $1.1 billion, down from $1.6 billion the previous year, which included significant railway line sales benefits [2] - Adjusted income showed an increase of $21 million, primarily due to land sales of $65 million [2] - The operating ratio was 64.6%, significantly higher than the 47.7% recorded in Q3 2024, but improved to 63.3% when adjusted for extraordinary items [3] Operational Highlights - The company achieved an all-time record in fuel efficiency and executed key productivity initiatives [4] - President and CEO Mark George emphasized the team's performance in safety, service, and productivity amid a dynamic freight market [4]