Norfolk Southern (NYSE:NSC) Q4 2025 Earnings call January 29, 2026 08:30 AM ET Company ParticipantsChris Wetherbee - Managing Director, Head of Transportation and Shipping ResearchEd Elkins - Chief Commercial OfficerJason Zampi - CFOJohn Orr - COOLuke Nichols - Head of Investor RelationsMark George - President and CEORichard Harnan - Vice PresidentWalter Spracklin - Director of Cdn Research and Co-Head Global Industrials ResearchConference Call ParticipantsBascome Majors - Senior Industrials Equity Research ...

Norfolk Southern (NYSE:NSC) Q4 2025 Earnings call January 29, 2026 08:30 AM ET Speaker3Good morning, ladies and gentlemen, and welcome to the Norfolk Southern Corporation Fourth Quarter 2025 Earnings Conference Call. Note that at this time, all participant lines are in the listen-only mode. Following the presentation, we will conduct a question-and-answer session. And if at any time during this call you require immediate assistance, please press star zero for the operator. Also note that this call is being ...

BNSF Railway will spend $3.6 billion under its 2026 capital plan, the railroad said, with the majority — $2.8 billion — ticketed for infrastructure maintenance. “Our 2026 capital plan focuses on strengthening and modernizing our network so we can continue to meet our customers’ evolving needs,” CEO Katie Farmer said in a release. “We prioritize investing with the future in mind, improving efficiency, adding capacity, and ensuring our railroad is always ready to support growth while delivering the dependab ...

Union Pacific (NYSE:UNP) Q4 2025 Earnings call January 27, 2026 08:45 AM ET Company ParticipantsAndre Kelleners - Managing DirectorsBrian Ossenbeck - Managing DirectorChris Wetherbee - Managing DirectorElliot Alper - VP of Equity ResearchEric Gehringer - EVP of OperationsJennifer Hamann - CFOJim Vena - CEOJonathan Chappell - Senior Managing DirectorKen Hoexter - Managing DirectorKenny Rocker - EVP of MarketingStephanie Moore - SVP of Equity ResearchNone - Video NarratorConference Call ParticipantsAri Rosa - ...

Union Pacific Corporation (NYSE:UNP) is included among the 12 Most Profitable Dividend Stocks to Buy in 2026. Union Pacific (UNP) Faces Near-Term Pressure After Merger Setback, Susquehanna Says On January 19, Susquehanna said it expects Union Pacific Corporation (NYSE:UNP) shares to trade modestly lower on Tuesday after the US Surface Transportation Board rejected the company’s proposed merger with Norfolk Southern. The decision was issued “without prejudice,” meaning the door is still open. The board in ...

CSX said Thursday that its profit slipped 2% in the fourth quarter as the railroad dealt with weak demand and severance costs from layoffs that new CEO Steve Angel carried out last fall. The Jacksonville, Florida-based railroad said it earned $720 million, or 39 cents per share, in the quarter. That's down from $733 million, or 38 cents per share. But the results were weighed down by about $50 million in one-time costs that drug down profits by 2 cents per share. Without that, the numbers would have bee ...

BNSF Railway saw financial improvements across the board as the unit of Berkshire Hathaway (NYSE: BRK-B) saw revenue and profits post sequential gains for the third quarter and nine month period. Revenues for the quarter were $5.988 billion from $5.881 billion in the corresponding period in 2024, the comapny said in its 10-Q filing. Pre-tax earnings totaled $1.912 billion, up from $1.846 billion. Net earnings were $1.449 billion, up from $1.383 billion. The operating ratio was 64.1%, better by 0.9% y/y. ...

Summary of Norfolk Southern (NSC) 2025 Conference Call Company Overview - **Company**: Norfolk Southern Corporation (NSC) - **Date of Conference**: June 10, 2025 - **Key Speakers**: John (Operating Officer), Jason Zanpey (Chief Financial Officer) Key Points and Arguments Industry and Operational Performance - **Current Operations**: Operations are running smoothly with a disciplined approach, reflecting positively on service and safety performance [6][7] - **Volume Growth**: Volume is up approximately 4.5% quarter-to-date, with carloads moving in the high 130,000s weekly [10][12] - **Revenue Growth Expectations**: Revenue growth is expected to be lower than volume growth due to headwinds from fuel prices and coal prices [12][41] Financial Goals and Productivity - **Productivity Initiatives**: A target of over $150 million in productivity improvements is set, with good progress made in Q1 [7][25] - **Operating Ratio Improvement**: Aiming for a 150 basis points improvement year-over-year, with expectations to outperform the previous quarter's 67.9% [8][24] - **Cost Management**: The company has successfully managed costs despite challenges, with a focus on continuous improvement and operational efficiency [29][30] Market Dynamics and Challenges - **Coal Market**: Utility coal volumes are strong due to restocking, while export coal faces price degradation impacting production [20][22] - **Intermodal and Merchandise**: Intermodal volumes are stable, but there are pressures in the steel, grain, and aggregates markets [23][42] Regulatory Environment and Technology - **Regulatory Changes**: Discussions with the FRA regarding the implementation of technology for inspections to enhance efficiency and safety [46][48] - **Technological Advancements**: Emphasis on using technology to improve operational capabilities and reduce regulatory burdens [51][53] Mergers and Acquisitions - **M&A Potential**: There is potential for transcontinental mergers, but the focus remains on enhancing productivity and service rather than pursuing M&A distractions [55][56] Future Outlook - **Revenue Growth Guidance**: The company maintains a revenue growth target of 3%, contingent on macroeconomic conditions [61][62] - **Share Repurchase Strategy**: Plans to continue share repurchases while balancing investments in the business and dividends [66] - **CapEx Reduction**: CapEx is expected to decrease by $200 million from 2024 levels due to improved network fluidity [71] Workforce Management - **Headcount Strategy**: The company is hiring to ensure adequate staffing, particularly for conductors, to avoid operational delays [73][74] Additional Important Insights - **Customer Engagement**: Strong relationships with customers are emphasized to ensure service reliability and attract freight back to the railroad [43][44] - **Operational Resilience**: The company has built resilience into its operations to handle fluctuations in demand effectively [17][19] This summary encapsulates the key discussions and insights from the Norfolk Southern conference call, highlighting the company's operational performance, financial goals, market dynamics, and strategic outlook.