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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

CSX's MACD Histogram crosses above signal line

The Moving Average Convergence Divergence (MACD) for CSX turned positive on June 29, 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 .

Price Prediction Chart

Technical Analysis (Indicators)

Bullish Trend Analysis

The Momentum Indicator moved above the 0 level on June 25, 2026. You may want to consider a long position or call options on CSX as a result. In of 87 past instances where the momentum indicator moved above 0, the stock continued to climb. 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 311 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 249 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 10-day RSI Indicator for CSX moved out of overbought territory on July 20, 2026. This could be a bearish sign for the stock. Traders may want to consider selling the stock or buying put options. Tickeron's A.I.dvisor looked at 46 similar instances where the indicator moved out of overbought territory. In of the 46 cases, the stock moved lower in the following days. This puts the odds of a move lower at .

The Stochastic Oscillator may be shifting from an upward trend to a downward trend. In of 58 cases where CSX's Stochastic Oscillator exited the overbought zone, the price fell further within the following month. The odds of a continued downward trend are .

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 July 16, 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.

Fundamental Analysis (Ratings)

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 Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating low risk on high returns. The average Profit vs. Risk Rating rating for the industry is 58, placing this stock better than average.

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 Seasonality Score of (best 1 - 100 worst) indicates that the company is fair valued in the industry. The Tickeron Seasonality score describes the variance of predictable price changes around the same period every calendar year. These changes can be tied to a specific month, quarter, holiday or vacation period, as well as a meteorological or growing season.

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 (6.826) is slightly higher than the industry average of (3.746). P/E Ratio (30.589) is within average values for comparable stocks, (22.735). Projected Growth (PEG Ratio) (2.239) is also within normal values, averaging (2.644). Dividend Yield (0.011) settles around the average of (0.017) among similar stocks. P/S Ratio (6.575) is also within normal values, averaging (3.944).

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 45.68B. The market cap for tickers in the group ranges from 320 to 174.04B. UNP holds the highest valuation in this group at 174.04B. 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 2%. For the same Industry, the average monthly price growth was 3%, and the average quarterly price growth was 10%. GBX experienced the highest price growth at 6%, while RVSN experienced the biggest fall at -13%.

Volume

The average weekly volume growth across all stocks in the Railroads Industry was -2%. For the same stocks of the Industry, the average monthly volume growth was -56% and the average quarterly volume growth was -51%

Fundamental Analysis Ratings

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

Valuation Rating: 70
P/E Growth Rating: 33
Price Growth Rating: 45
SMR Rating: 60
Profit Risk Rating: 58
Seasonality Score: 17 (-100 ... +100)
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a provider of rail-based transportation services

Industry Railroads

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Industry
Railroads
Address
500 Water Street
Phone
+1 904 359-3200
Employees
23000
Web
https://www.csx.com