Norfolk Southern CEO Says Higher Fuel Prices Have Become Roughly 250-Basis-Point Headwind To Co's Operating Ratio, Leaving Q3 Performance Likely Worse Than Seasonal Trends - Morgan Stanley Conf.

Sept. 15 (Reuters) - Norfolk Southern Corp. NSC.N:

• Norfolk Southern CEO says higher fuel prices have become roughly a 250-basis-point headwind to the company's operating ratio, leaving third-quarter performance likely worse than seasonal trends - Morgan Stanley conf.
• Norfolk CEO says the company expects continued incremental share gains, with the next major opportunity to shift freight from highways to rail coming during the 2027 contract bidding season.
• Norfolk CEO says customers are mostly past tariff uncertainty, but the Middle East conflict's impact on fuel prices and global shipping routes remains a concern.
• Norfolk CEO says merger review remains broadly in line with expectations, with the STB schedule providing greater visibility into the process.