Norfolk Southern Corp

NSC: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	RhV	LOCK\|kF	LOCK\|S%$mRZ

Norfolk Southern Earnings: Tough Comps and Share Losses Weigh on Intermodal

Matthew Young

Apr 24, 2026

Norfolk Southern’s first-quarter top line was flat year over year, as lower intermodal activity offset modest yield gains linked to favorable mix and positive core pricing. Consolidated adjusted margin worsened but wasn't far off our expected run rate.

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Norfolk Southern Corp

Norfolk Southern Earnings: Tough Comps and Share Losses Weigh on Intermodal

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