Norfolk Southern (NSC) beat expectations in Q2 FY2026 on revenue of $3.5B versus the $3.4B estimate (+11.4% YoY) and EPS of $3.52. The next Norfolk Southern (NSC) earnings date is Oct 22, 2026. Below is the full Norfolk Southern earnings breakdown — the risk-adjusted verdict, price forecast, technicals, options and hedge-fund 13F holdings, decoded in plain English.
$3.5B (vs $3.4B est · +3.6% surprise · +11.4% YoY)
EPS
$3.52 (vs $3.32 est · +6.0% surprise · -4.4% YoY)
Share price
$352.98 (+0.6%)
Market cap
$79.3B
Norfolk Southern (NSC) Earnings Analysis — beat / miss history
Quarter
Revenue
EPS
EPS surprise
Next-day move
Verdict
Q3 FY2026
$3.5B vs $3.4B est
$3.52 vs $3.32 est
+6.0%
+6.0%
Beat
Q2 FY2026
$3.0B vs $3.0B est
$2.65 vs $2.49 est
+6.4%
-0.8%
Mixed
Q1 FY2026
$3.0B vs $3.0B est
$3.22 vs $2.76 est
+16.7%
+2.4%
Mixed
Q4 FY2025
$3.1B vs $3.1B est
$3.30 vs $3.19 est
+3.4%
-2.8%
Mixed
Q3 FY2025
$3.1B vs $3.1B est
$3.29 vs $3.31 est
-0.6%
-2.6%
In line
Q2 FY2025
$3.0B vs $3.0B est
$2.69 vs $2.66 est
+1.1%
+3.0%
In line
Q1 FY2025
$3.0B vs $3.0B est
$3.04 vs $2.94 est
+3.4%
+1.9%
Mixed
Q4 FY2024
$3.1B vs $3.1B est
$3.25 vs $3.11 est
+4.5%
+3.6%
Mixed
Top institutional holders
Holder
% outstanding
Shares
Value
QoQ change
Blackrock, INC.
7.1%
16.0M
$5.0B
+4.7%
Vanguard Capital Management LLC
6.5%
14.7M
$4.6B
+0.5%
State Street Corp
4.6%
10.2M
$3.2B
+4.2%
Vanguard Portfolio Management LLC
3.2%
7.2M
$2.3B
+79.2%
Millennium Management LLC
2.3%
5.2M
$1.6B
+13.5%
Geode Capital Management, LLC
2.3%
5.1M
$1.6B
+0.8%
Bank Of America Corp /De/
1.4%
3.1M
$979.0M
-2.8%
Norges Bank
1.4%
3.0M
$956.6M
+100.0%
Pentwater Capital Management LP
1.2%
2.8M
$873.0M
-13.8%
Northern Trust Corp
1.2%
2.6M
$822.5M
-0.9%
Recent insider transactions
Insider
Role
Date
Type
Shares
Value
Huffard John C Jr
director
2026-08-20
Buy
20
—
Huffard John C Jr
director
2026-08-20
Buy
12
—
Ryerkerk Lori
director
2026-08-20
Buy
3
—
LAMPHERE GILBERT H
director
2026-08-20
Buy
2
—
Jones Christopher T
director
2026-08-20
Buy
20
—
Heitkamp Mary Kathryn
director
2026-08-20
Buy
7
—
Fahmy Sameh
director
2026-08-20
Buy
7
—
Donadio Marcela E
director
2026-08-20
Buy
34
—
What you'll find
Next Norfolk Southern (NSC) earnings date, the expected move and the estimates priced in
A clear Beat / Miss / In-line / Mixed verdict the moment Norfolk Southern reports
Revenue & EPS versus estimates, guidance and segment trends
Multi-lens price forecast — analyst, quant, technical and options views
Deep research: red flags, risk decoder and earnings-call sentiment
Technicals, options / implied volatility and unusual-activity signals
Hedge-fund and legendary-investor 13F holdings in Norfolk Southern (NSC)
Side-by-side peer and historical earnings comparison
Frequently asked questions
When is Norfolk Southern's next earnings date?
Norfolk Southern's (NSC) next scheduled earnings date is Oct 22, 2026. Magnisto shows the confirmed date, the options-implied expected move and the revenue and EPS estimates Wall Street is modeling into the report.
Did Norfolk Southern (NSC) beat or miss earnings?
In Q2 FY2026, Norfolk Southern (NSC) posted beat results — revenue of $3.5B versus the $3.4B estimate (+3.6% surprise) and EPS of $3.52 versus $3.32 expected (+6.0% surprise). Magnisto decodes every Norfolk Southern (NSC) report into a clear Beat, Miss, In-line or Mixed verdict and checks whether guidance was raised, held or cut.
How often does Norfolk Southern beat earnings estimates?
Over its last 8 reported quarters, Norfolk Southern (NSC) beat Wall Street EPS estimates 6 times, most recently a beat result in Q3 FY2026. Magnisto tracks every Norfolk Southern (NSC) quarter's revenue and EPS versus consensus and grades each one Beat, Miss, In-line or Mixed at a unified ±2% threshold.
How much does Norfolk Southern stock move after earnings?
Over its last 8 quarterly reports, Norfolk Southern (NSC) moved an average of ±2.9% the day after earnings — ranging from -2.8% (Q4 FY2025) to +6.0% (Q3 FY2026). The stock rose after 5 of those 8 reports and fell after 3. Heading into its next report on Oct 22, 2026, options-implied volatility is pricing in a move of roughly ±7.2% (derived). Magnisto tracks the realized post-earnings move for every Norfolk Southern (NSC) quarter alongside the beat/miss verdict — past moves don't predict the next one.
Who are the largest shareholders of Norfolk Southern?
Institutions hold about 124.1% of Norfolk Southern's (NSC) shares outstanding as of the 2026-06-30 13F quarter. Its largest institutional holders include Blackrock, INC. (7.1%), Vanguard Capital Management LLC (6.5%), State Street Corp (4.6%). Magnisto lists Norfolk Southern's (NSC) top 13F holders with each stake size and its quarter-over-quarter change.
Are insiders buying or selling Norfolk Southern (NSC)?
In the most recent Form 4 filings Magnisto tracks, Norfolk Southern (NSC) insiders recorded 12 purchases and 0 sales — net buying. Insider transactions are one signal among many and are often routine (option exercises or scheduled 10b5-1 sales), so Magnisto shows the raw feed for you to judge.
What is the forecast for Norfolk Southern (NSC) stock?
Magnisto blends analyst price targets, quantitative research, technical trend and options-implied moves into a scenario range for Norfolk Southern (NSC), anchored to the current $352.98 share price, so you can weigh the bull, base and bear cases for Norfolk Southern side by side.
Is Norfolk Southern (NSC) a buy right now?
Magnisto does not give buy or sell tips. It gives you the institutional-grade evidence — the verdict, valuation, risks, technicals and hedge-fund 13F flows — so you can decide whether Norfolk Southern fits your own thesis and risk profile. This is research, not investment advice.