Norfolk Southern Q3 adjusted EPS beats estimates on increased rail demand
NSC•Norfolk Southern reported third-quarter adjusted EPS of $3.62, beating the $3.47 estimate, while revenue rose 14% year over year to $3.50 billion. The company cited increased rail demand and productivity gains.
1. Quarterly results
Norfolk Southern's third-quarter revenue rose 14% year over year to $3.50 billion, slightly above the $3.48 billion estimate. Adjusted EPS increased 10% to $3.62, beating the $3.47 estimate; reported EPS was $3.37.
2. Demand and productivity
The company said increased demand for rail service, partly due to a tighter trucking market, contributed to revenue growth. Productivity gains and disciplined cost control supported earnings growth despite higher fuel costs.
