Norfolk Southern beats third-quarter expectations: Fuel recovery supports profit as higher cost guidance leaves improvement outlook intact
Third-quarter adjusted earnings per share exceeded consensus by about 4%, with fuel surcharges accounting for most of the revenue upside to Bernstein’s forecast. Full-year expense guidance was raised again, but cost guidance excluding incremental fuel fell. Together with stronger coal demand, this led the firm to view market earnings expectations for 2027 as achievable.
Bernstein ·