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Norfolk Southern NSC Q2 2025 earnings

Reported July 29, 2025 · Before market open

Revenue$3.1BMiss by $18.2MDiluted EPS$3.29Miss by $0.02
Revenue estimate$3.1B
EPS estimate$3.31

Next report

Aug 4, 2026 (in a month)
Revenue estimate$3.3B
EPS estimate$3.12

Financials

Q2 2025

Income statement

See full
Revenue$3.1B+2.2%
Operating income$1.2B+3.9%
Net income$768.0M+4.2%
EPS (diluted)$3.41+4.9%

Balance sheet

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Cash & equivalents$1.3B+97.7%
Total equity$14.8B+13.9%
Total assets$44.2B+3.8%

Cash flow

See full
Operating cash flow$1.1B+4.0%
CapEx$475.0M-16.4%
Free cash flow$602.0M+28.6%

Valuation & ratios

Valuation

as of 06/30/25
See full
Market cap$58.04B+19.8%
P/E17.3×-9.7×
P/S4.8×+0.8×

Profitability

See full
Operating margin41.5%+17.4pp
Net margin27.5%+12.7pp
FCF margin16.6%—

Returns & leverage

See full
Return on equity24.1%+10.1pp
Current ratio0.8×+0.2×

Segments

By segment

See full
Railway Operating Revenues Market Group Merchandise$2.0B+3.6%
Railway Operating Revenues Market Group Intermodal$743.0M+0.1%
Railway Operating Revenues Market Group Coal$395.0M-0.8%

Versus estimates

Revenue

Q1 2026$3.0BBeat by $4.3MQ4 2025$3.0BMiss by $27.0MQ3 2025$3.1BMiss by $8.7M
Q2 2025$3.1BMiss by $18.2M
Q1 2025$3.0BBeat by $22.2MQ4 2024$3.0BBeat by $9.1M

Diluted EPS

Q1 2026$2.65Beat by $0.16Q4 2025$3.22Beat by $0.46Q3 2025$3.30Beat by $0.11
Q2 2025$3.29Miss by $0.02
Q1 2025$2.69Beat by $0.03Q4 2024$3.04Beat by $0.10

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Questions, answered.

When did Norfolk Southern report Q2 2025 earnings?
Norfolk Southern (NSC) reported Q2 2025 earnings on July 29, 2025 before market open.
What were Norfolk Southern's Q2 2025 revenue and EPS?
Norfolk Southern reported revenue of $3.1B and diluted EPS of $3.29 for Q2 2025.
Did Norfolk Southern beat estimates in Q2 2025?
Revenue missed the consensus estimate of $3.1B by $18.2M. EPS missed the consensus estimate of $3.31 by $0.02.
How did Norfolk Southern's Q2 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 2.2% from $3.0B a year earlier and diluted EPS grew 7.5% from $3.06.
Where can I find Norfolk Southern's Q2 2025 SEC filings?
You can read the 10-Q periodic report (0000702165-25-000028) directly on SEC EDGAR. The filing index links above go to sec.gov.