Norfolk Southern (NSC) Q3 FY25 earnings call

Norfolk Southern delivered strong operational performance in Q3 FY25, achieving record fuel efficiency and significant safety improvements while increasing GTMs with fewer resources. However, revenue fell short of expectations due to persistent macro headwinds and intensified competitive pressures in intermodal markets following the proposed merger announcement. The company remains focused on cost control and service quality, preparing for long-term growth opportunities post-merger while navigating near-term top-line volatility.