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Why is Norfolk Southern Corp (NSC) Stock down?
We've noticed a 7.47% decline in Norfolk Southern Corp (NSC) stock during the 2025-04-03 trading session. While this could be attributed to normal volatility or various internal and external factors, please be aware that we are actively monitoring the situation, and we'll provide timely updates as soon as possible!
25 Oct, 2023:
Shares of Norfolk Southern Corporation (NSC) dropped by 5.33% from $196.24 to $185.79 in the trading on Wednesday, October 25, 2023. The reason why NSC stock down is due to its mixed Q3 results
- Earnings: Norfolk Southern reported Q3 2023 earnings of $2.65 per share, missing the Zacks Consensus Estimate of $2.74 by a significant margin. This marked a substantial 35.4% year-over-year decline in earnings.
- Revenue: The company's Q3 railway operating revenues came in at $2,971 million, which slightly exceeded the Zacks Consensus Estimate of $2,942.3 million. However, this still represented a notable 11.1% year-over-year decrease.
- Rising Operating Expenses: Railway operating expenses surged by 7% year over year to reach $2,215 million. This increase was primarily driven by a significant rise in material costs and expenses related to the Ohio derailment incident.
- Worsening Operating Ratio: Norfolk Southern's operating ratio, a critical metric measuring operating expenses as a percentage of revenues, soared to 74.6% in Q3 from 62% in the previous year due to escalating costs. A lower value of this metric is preferred.
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