Skip to Content

Norfolk Southern Corp NSC

Rating as of

Morningstar’s Analysis

Currency in USD
Is it the right time to buy or sell?
Find out with Morningstar Premium
Is it the right time to buy or sell?
Find out with Morningstar Premium

1-Star Price


5-Star Price


Economic Moat


Capital Allocation


Carloads Hit by Labor Constraints in Norfolk Southern’s Q4, but Rates Strong and Outlook Favorable

Matthew Young, CFA Equity Analyst

Analyst Note

| Matthew Young, CFA |

Norfolk Southern’s fourth-quarter revenue grew 11% year over year (it was up 14% last quarter) on strong revenue per carload gains, though higher fuel surcharges also contributed. Revenue modestly exceeded our expectations on stronger-than-expected yield improvement, which more than offset disappointing volumes. Along those lines, core pricing continues to enjoy tailwinds from unusually tight capacity across most transportation modes, lifting CSX’s pricing power--average revenue per carload rose 15%.

Read Full Analysis

Company Profile

Business Description

Class-I railroad Norfolk Southern operates in the Eastern United States. On roughly 21,000 miles of track, the firm hauls shipments of coal (15% of 2019 revenue), intermodal traffic (25%), and a diverse mix of automobile, agriculture, metal, chemical, and forest products.

Three Commercial Place
Norfolk, VA, 23510-2191
T +1 757 629-2680
Sector Industrials
Industry Railroads
Most Recent Earnings Sep 30, 2021
Fiscal Year End Dec 31, 2021
Stock Type Cyclical
Employees 20,156