Yahoo Finance Earnings To Watch: Norfolk Southern Corporation (NSC) Reports Q2 Results Tomorrow
Freight transportation company Norfolk Southern (NYSE:NSC) will be reporting earnings tomorrow after market close. Here's what investors should know.
Norfolk Southern Corporation met analysts' revenue expectations last quarter, reporting revenues of $3.00 billion, down 4.1% year on year. It was a mixed quarter for the company, with a decent beat of analysts' volume estimates but a miss of analysts' earnings estimates.
Is Norfolk Southern Corporation a buy or sell going into earnings? Read our full analysis here, it's free.
This quarter, analysts are expecting Norfolk Southern Corporation's revenue to grow 2.1% year on year to $3.04 billion, a reversal from the 8.3% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $2.86 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Norfolk Southern Corporation has missed Wall Street's revenue estimates three times over the last two years.
Looking at Norfolk Southern Corporation's peers in the transportation and logistics segment, some have already reported their Q2 results, giving us a hint as to what we can expect. FedEx posted flat year-on-year revenue, meeting analysts' expectations, and United Parcel Service reported a revenue decline of 1.1%, falling short of estimates by 1.9%. FedEx traded up 15.5% following the results.
Read our full analysis of FedEx's results here and United Parcel Service's results here.
There has been positive sentiment among investors in the transportation and logistics segment, with share prices up 8.3% on average over the last month. Norfolk Southern Corporation is up 4.5% during the same time and is heading into earnings with an average analyst price target of $261.1 (compared to the current share price of $223).
Unless you’ve been living under a rock, it should be obvious by now that generative AI is going to have a huge impact on how large corporations do business. While Nvidia and AMD are trading close to all-time highs, we prefer a lesser-known (but still profitable) semiconductor stock benefitting from the rise of AI. Click here to access our free report on our favorite semiconductor growth story.
