Norfolk Southern reported record Q3 revenue and higher adjusted EPS

On October 22, NSC reported Q3 revenue of $3.5B, up 14% year over year, on 3% volume growth; GAAP diluted EPS was $3.37 and adjusted EPS $3.62, up 10% year over year. Adjusted operating ratio was 65.4%, 210 bps higher year over year. Management cited productivity gains, rising fuel costs and stronger rail demand.