Norfolk Southern Corporation (NSC) earnings on July 23, 2026

Before the market opens Q2 2026

More Norfolk Southern Corporation earnings

Prior outlook: No statistical edge

Norfolk Southern shares rose sharply after a revenue jump helped offset rising costs, closing up 5%.

NSC price around the earnings

348.55

Change: +5.3%

2026-07-23, 20:00 UTC

End of the measured window
330.90 339.83 348.77 357.70 330.90
Price series around the eventClosing price per minute from before the event to the end of the measured window.
July 23, 2026
  • Price: green if it ends above the starting price; red if it ends below
  • End of the measured window
  • Market open
  • Starting price
Price series around the event

Prior thesis

Prior outlook: No statistical edge

Thesis published
Results released

Positive past beats and recent trend strength, but negative Q earnings growth and minimal analyst upside persist.

Context analyzed before publication

Trend
Trajectory scores have been consistently negative, indicating a deteriorating outlook despite a recent strong trend.

Analysts

Evidence

Analyst consensus
Hold
Consensus average (1-5)
2.57
Analysts covering the stock
18
Average price target
341.72
Lowest price target
297
Highest price target
396
Upside to price target
3.3%
Quarterly earnings growth
-27.1%
Revenue growth
0.2%
Forward EPS
13.85
Trailing EPS
11.85
Analyst moves in the last 60 days
5
  • Strong buy: 1
  • Buy: 4
  • Hold: 16
  • Sell: 0
  • Strong sell: 0
Strong buy
1
Buy
4
Hold
16
Sell
0
Strong sell
0
  • July 14, 2026 · Susquehanna: Maintains rating (Neutral → Neutral)
  • July 10, 2026 · JP Morgan: Maintains rating (Neutral → Neutral)
  • July 10, 2026 · Baird: Maintains rating (Neutral → Neutral)
  • July 9, 2026 · Citigroup: Maintains rating (Neutral → Neutral)
  • July 8, 2026 · Wells Fargo: Maintains rating (Overweight → Overweight)

News and sentiment

Evidence

Sentiment
Sentiment
Neutral
Mentions
0
News
Sources (8)

Technicals

Evidence

Average true range (ATR)
1.6%
Distance to 52-week high
-2.7%
14-day change (14d)
+3.6%
30-day change (30d)
+8.9%
30-day relative strength
+8.4%
SPY change (30d)
+0.4%
Nearest support
330.33
Nearest resistance
332.27
Volume accumulation ratio (14d / 46d)
1

Trends

Evidence

Average earnings surprise
+6.3%
  • April 24, 2026: actual EPS 2.65 vs estimate 2.49 (surprise +6.3%)
  • January 29, 2026: actual EPS 3.22 vs estimate 2.76 (surprise +16.5%)
  • October 23, 2025: actual EPS 3.3 vs estimate 3.2 (surprise +3.0%)
  • July 29, 2025: actual EPS 3.29 vs estimate 3.31 (surprise -0.5%)

Expected move

Implied move
+1.4%
Source
Options chain

Reactions over its last 20 earnings

Median move
2.2%
75th percentile move
3.2%
90th percentile move
5%
Up / down moves
8 / 12
Average up move
+3.3%
Average down move
-2.4%

Monitoring and close

What Norfolk Southern Corporation reported

Status
Finished
Actual EPS3.52
EPS estimate3.31
EPS surprise+6.3%
Revenue$3,465 million
Revenue estimate$3,369 million
Revenue surprise+2.8%

Norfolk Southern reported record revenue of $3.5 billion and earnings that beat estimates in Q2, driven by higher freight volumes and fuel surcharges.

Sources (22)

Pre-market second reading after the results

Verdict
Beat expectations

Heading into the open, the figures don't clearly confirm the prior scenario.

How the stock reacted

Consolidated
+5.1%
Max move
+8.4%

No verdict: the outlook took no direction, so there is nothing to score as a hit or a miss.