Norfolk Southern Corp

NSC: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Norfolk Southern Earnings: Results in Line; Raising Valuation to Reflect Potential UNP Merger

Matthew Young

Jul 30, 2025

Norfolk Southern’s second-quarter results largely met our expectations, as revenue growth was led by coal and margin improvement was driven in part by efficiency gains. Importantly, the rail inked a deal to be acquired by Union Pacific for $320 per share, as discussed in our note from July 29.

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Norfolk Southern Corp

Norfolk Southern Earnings: Results in Line; Raising Valuation to Reflect Potential UNP Merger

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