How often does Norfolk Southern move more than the options market prices?

2 of the last 8 reports moved at least as far as the implied move.

NSCNYSERailroads, Line-Haul Operating

Norfolk Southern Corp (NSC) earnings date, market-implied expected move, and options open interest by expiry

329.13

−15.01 · −4.36%

Regular session09:35 ET

Open344.00Volume679,917Mkt cap$76.6BP/E27.54EPS11.95Div yield1.58%

Day328.11 – 344.006%52-wk274.30 – 357.1866%

NSC

Norfolk Southern Corp

OpenVolumeMkt capP/EEPSDiv yield

Day – 52-wk –

Expected move

No implied move.

Expected move

Inputs

Next report

Jan 28

before open · in 84 days

est.Q4 FY26

Calendar

Next report

Last report

+3.09%

vs ±4.6% implied · ×0.67

shaded = implied · ▲▼ = realized

Oct 22 '26 · confirmed

Implied vs realized

Linked news

17hTTAM · customerTitan America posts Q3 revenue $461.6 million, net income $39.8 million, adjusted EBITDA $95.0 million
1dMETC · customerRamaco Resources posts net loss of $18,235 thousand, revenue $150,089 thousand, Class A EPS $(0.32)
1dJBHT · customerJ.B. Hunt Transport Services, Inc. Announces Participation in Upcoming Investor Conferences

News

Largest filed tie

13F top-10 QoQ

+6.87%

shares held · 10 largest managers

13F · Jun 30 '26128d lag

1,864 managers

Top fund weight

2.05%

NSC weight · EVNT

N-PORTAug 31 '26

10 funds

Last reportshaded = implied▲▼ = realized× = |realized| ÷ implied

Norfolk Southern (NSC) is expected to report on Jan 28 before open (estimated date).

Implied vs realized

8 reports

2 of 8≥ implied

avg implied: ±3.6%
avg realized: ±2.2%

Jan 29 '25Jan 29 '25confirmed±3.7%▲+1.75%×0.47

Apr 23 '25Apr 23 '25confirmed±3.7%▲+0.89%×0.24

Jul 29 '25Jul 29 '25confirmed±4.0%▼−3.04%×0.77

Oct 23 '25Oct 23 '25confirmed±2.1%▼−1.17%×0.56

Jan 29 '26Jan 29 '26confirmed±1.7%▲+2.00%×1.17

Q1 FY26Apr 24 '26confirmed±4.3%▼−0.54%×0.13

Q2 FY26Jul 23 '26confirmed±5.1%▲+5.32%×1.05

Q3 FY26Oct 22 '26confirmed±4.6%▲+3.09%×0.67

quarterimplied−10%0+10%realized×

Q3 FY26±4.6%▲+3.09%×0.67

Q2 FY26±5.1%

Shaded = implied · tick ▲▼ = realized · × = |realized| ÷ impliedSource: options EOD · implied at prior close · realized close to close

Implied vs realized

Positioning

OI · 4 expiries · Nov 3 close

3.16OI · 4 expiries · Nov 3 closeP/C open interest · Mar 19 · first expiry after the report

PUTS · chgexpiry · days · P/CCALLS · chgP/C

659−37%Nov 2015d0.631,043−1%0.63

850−4%Dec 1843d0.571,480+2%0.57

2,2400%Jan 1571d1.521,469−3%1.52

report · Jan 28 · before open · est.

1,4610%Mar 19134d463+19%

ExpiryPutsCallsP/C

Nov 2015d659−37%1,043−1%0.63

Dec 1843d850−4%1,480+2%0.57

Jan 1571d2,2400%1,469−3%1.52

report · Jan 28 · before open · est.

Hatched = puts · solid = calls · bars scaled per expiry · chg = OI vs prior sessionSource: options EOD

Positioning

Linked exposure

No implied move.

Linked exposure

Revenue flow

as filedQ3 FY26

21.53%as filednet margin · revenue +1.76% QoQ · +13.63% YoY

Revenue

$3.5B+1.76% QoQ

Gross profit

$1.8B+2.32% QoQ

51.25% margin

Operating income

$1.1B+2.31% QoQ

32.61% margin

Pre-tax income

$987M+2.92% QoQ

Net income

$759M+3.41% QoQ

21.53% margin

Cost of revenue

$1.7B+1.18% QoQ

Operating expenses

$657M+2.34% QoQ

Depreciation $363M

Other operating $252M

Other operating $42M

Other expense

$163M

Tax

$228M+1.33% QoQ

Revenue$3.5B+1.76%

Gross profit

$1.8B+2.32%

51.25% margin

Operating income

$1.1B+2.31%

32.61% margin

Pre-tax income

$987M+2.92%

Net income

$759M+3.41%

21.53% margin

Cost of revenue

$1.7B+1.18%

Operating expenses

$657M+2.34%

Depreciation $363M

Other operating $252M

Other operating $42M

Other expense

$163M

Tax$228M+1.33%

flow · deduction · signed % = QoQSource: SEC filings · standardized · QE Sep 30 '26 · width = $

Revenue flow

Intraday

15m bars

Hatch = extended hours · ▯ up · ▮ downSource: market data · 09:30 ET

Intraday

Event sensitivity

NFP ×1.31· ±1.4% vs ±1.1% · 10 releases

eventrelease day|move|up · n×base

NFPjobs report±1.4%5 of 10×1.31

CPROFcorporate profits±1.2%8 of 12×1.16

FOMCrate decision±1.2%10 of 24×1.09

PCEpersonal income & outlays±1.1%10 of 19×1.01

GDPgross domestic product±1.0%13 of 19×0.91

PPIproducer prices±0.7%6 of 10×0.66

CPIconsumer prices±0.5%4 of 10×0.45

Bar = avg |move| to ±2% · tick = ±1.1% avg day · ×base = |move| ÷ ±1.1% · min 6 releases

Earnings history

EPS 3.37 · consensus —

Quarter	Reported	EPS	Consensus
Q3 FY26	Oct 22 '26 · confirmed	3.37	—
Q2 FY26	Jul 23 '26 · confirmed	3.26	—
Q1 FY26	Apr 24 '26 · confirmed	2.43	—

Source: filed financials

Methodology

ties · implied moves · holdersMethod