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Jan 25, 2026
CSX vs. NSC vs. UNP: Rail Earnings Preview

CSX vs. NSC vs. UNP: Rail Earnings Preview

Key Takeaways

  • CSX (NASDAQ: CSX) reports Q4 2025 earnings after market close on January 22, 2026, with consensus EPS ~$0.42 and revenue ~$3.57 billion.

  • Union Pacific (NYSE: UNP) follows on January 27, with EPS expected near $2.89 and revenue around $6.15 billion.

  • Norfolk Southern (NYSE: NSC) closes the week on January 29, with consensus EPS ~$2.77.

  • Railroads face mixed freight demand, with intermodal strength offset by weaker coal volumes and economic uncertainty.

  • All three Class I operators prioritize operational efficiency and cost control amid volume fluctuations.

  • Comparisons highlight differences in geographic reach, commodity exposure, and pricing power within the competitive U.S. freight market.

Why This Comparison Matters

CSX’s upcoming Q4 report provides an early read on North American rail performance, particularly freight volumes and pricing amid a cautious economy. Comparing CSX with Norfolk Southern and Union Pacific is crucial for investors, as these Class I railroads collectively dominate U.S. freight transport, spanning intermodal, merchandise, and coal segments.

Recent trends include recovering intermodal traffic, softer coal demand due to low natural gas prices, and ongoing efficiency programs. Industrial production, consumer spending, and macroeconomic conditions remain key drivers, making this trio a barometer for transportation sector health and broader economic signals.

CSX (CSX) Earnings Focus

CSX reports Q4 2025 after the market closes on January 22, followed by a 4:30 PM ET call. Consensus estimates:

  • EPS: ~$0.42 (flat to slightly down YoY)

  • Revenue: ~$3.57 billion

Investors will watch:

  • Operating ratio improvements

  • Merchandise and intermodal volume trends

  • Fuel surcharge impacts

  • Guidance for 2026, including cost management and capital allocation

Historically, CSX shares react to surprises in volume and efficiency metrics, making these indicators particularly important.

Norfolk Southern (NSC) Earnings Preview

NSC reports Q4 2025 January 29 before market open, with a 8:30 AM ET call. Consensus:

  • EPS: ~$2.77, down from $3.04 YoY

NSC emphasizes safety, service consistency, and productivity gains, raising its 2025 productivity targets. Compared with CSX, NSC benefits from strong Eastern network coverage but faces similar headwinds in coal and broader macro softness.

Union Pacific (UNP) Earnings Preview

UNP releases Q4 2025 results January 27 before market open, followed by an 8:45 AM ET call. Consensus:

  • EPS: ~$2.89

  • Revenue: ~$6.15 billion

UNP’s Western network provides exposure to agricultural and international intermodal flows, supporting relative stability. Operational resilience and shareholder return remain key focuses amid fluctuating freight volumes.

Head-to-Head Comparison

CSX, NSC, and UNP share strong earnings fundamentals rooted in scale, pricing discipline, and cost efficiency.

  • CSX & NSC: Eastern networks, focus on merchandise and coal

  • UNP: Western routes, bulk commodities, and international intermodal advantage

Growth drivers include intermodal recovery and e-commerce shipments, offset by coal volume declines and industrial activity risks. All face labor, fuel, and regulatory challenges, with operating ratios and capital allocation strategies varying across the group. Investor sentiment reflects the defensive appeal of these railroads, balancing near-term volume risks against long-term efficiency and network strength.

Tickeron AI Verdic

tTickeron AI Perspective

Tickeron’s AI models show a slight near-term preference for UNP, citing its diversified volume mix, consistent earnings, and historical resilience in uncertain freight conditions. Upcoming earnings reports could shift dynamics, so investors should monitor guidance and volume trends closely.

Disclaimers and Limitations

Related Ticker: CSX, NSC, UNP

Momentum Indicator for CSX turns positive, indicating new upward trend

CSX saw its Momentum Indicator move above the 0 level on January 21, 2026. This is an indication that the stock could be shifting in to a new upward move. Traders may want to consider buying the stock or buying call options. Tickeron's A.I.dvisor looked at 93 similar instances where the indicator turned positive. In of the 93 cases, the stock moved higher in the following days. The odds of a move higher are at .

Price Prediction Chart

Technical Analysis (Indicators)

Bullish Trend Analysis

The Moving Average Convergence Divergence (MACD) for CSX just turned positive on January 21, 2026. Looking at past instances where CSX's MACD turned positive, the stock continued to rise in of 43 cases over the following month. The odds of a continued upward trend are .

CSX moved above its 50-day moving average on January 21, 2026 date and that indicates a change from a downward trend to an upward trend.

The 10-day moving average for CSX crossed bullishly above the 50-day moving average on January 22, 2026. This indicates that the trend has shifted higher and could be considered a buy signal. In of 19 past instances when the 10-day crossed above the 50-day, the stock continued to move higher over the following month. The odds of a continued upward trend are .

Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where CSX advanced for three days, in of 303 cases, the price rose further within the following month. The odds of a continued upward trend are .

The Aroon Indicator entered an Uptrend today. In of 238 cases where CSX Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .

Bearish Trend Analysis

The RSI Indicator demonstrates that the ticker has stayed in the overbought zone for 8 days. The longer the ticker stays in the overbought zone, the sooner a price pull-back is expected.

The Stochastic Oscillator demonstrated that the ticker has stayed in the overbought zone for 13 days. The longer the ticker stays in the overbought zone, the sooner a price pull-back is expected.

Following a 3-day decline, the stock is projected to fall further. Considering past instances where CSX declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .

CSX broke above its upper Bollinger Band on February 03, 2026. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.

The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating outstanding price growth. CSX’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.

The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to outstanding earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.

The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating strong sales and a profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.

The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating well-balanced risk and returns. The average Profit vs. Risk Rating rating for the industry is 79, placing this stock slightly better than average.

The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is significantly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: CSX's P/B Ratio (5.777) is very high in comparison to the industry average of (1.951). P/E Ratio (26.539) is within average values for comparable stocks, (19.940). Projected Growth (PEG Ratio) (3.474) is also within normal values, averaging (9.563). Dividend Yield (0.013) settles around the average of (0.039) among similar stocks. P/S Ratio (5.432) is also within normal values, averaging (2.627).

Notable companies

The most notable companies in this group are Union Pacific Corp (NYSE:UNP), CSX Corp (NASDAQ:CSX), Norfolk Southern Corp (NYSE:NSC).

Industry description

The Railroad industry includes passenger and freight transportation services along rail lines. This also includes companies that provide maintenance and switching duties as part of rail services. Within North America, the industry is largely dominated by some large operators. Several short-line railroads serve regional and local routes. Union Pacific Corporation, Canadian National Railway Company, and CSX Corporation are some of the prominent names in the business. The railroad business is relatively cyclical; economic expansion boost the freight services in particular, while economic stagnation often dampens transportation demand.

Market Cap

The average market capitalization across the Railroads Industry is 19.03B. The market cap for tickers in the group ranges from 320 to 154.69B. UNP holds the highest valuation in this group at 154.69B. The lowest valued company is URAL at 320.

High and low price notable news

The average weekly price growth across all stocks in the Railroads Industry was 1%. For the same Industry, the average monthly price growth was 3%, and the average quarterly price growth was 4%. WJRYF experienced the highest price growth at 16%, while PNYG experienced the biggest fall at -45%.

Volume

The average weekly volume growth across all stocks in the Railroads Industry was -9%. For the same stocks of the Industry, the average monthly volume growth was -25% and the average quarterly volume growth was -14%

Fundamental Analysis Ratings

The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows

Valuation Rating: 53
P/E Growth Rating: 52
Price Growth Rating: 53
SMR Rating: 75
Profit Risk Rating: 78
Seasonality Score: -6 (-100 ... +100)
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These past five trading days, the stock lost 0.00% with an average daily volume of 0 shares traded.The stock tracked a drawdown of 0% for this period. CSX showed earnings on January 22, 2026. You can read more about the earnings report here.
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a provider of rail-based transportation services

Industry Railroads

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Address
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