Norfolk Southern
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TD Cowen: 20th Anniversary Quarterly Rail Survey Says …
Pricing continues to decelerate in the third quarter, running well below the survey’s average. Business growth expectations worsen, akin to COVID lows. Economic confidence skews negative. Shippers would move LSD…
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TD Cowen Insight: Merger to Dominate Rail Earnings Despite Diverging Q3 Operations
We lower Q3 EPS estimates below current consensus for both Eastern carriers, while modestly raising estimates for UNP, driven by outperformance in IM and coal. Broader freight demand remains challenged…
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The ‘End Game’ UP-NS Merger
On July 30, 2025, at the Surface Transportation Board, Union Pacific and Norfolk Southern filed a notice of intent to file an Application for authority to merge. The earliest the…
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STB Drama Follows UP-POTUS Chat
WATCHING WASHINGTON, RAILWAY AGE, OCTOBER 2025 ISSUE: The proposed marriage of Union Pacific (UP) and Norfolk Southern (NS) to form the first U.S. seamless Atlantic to Pacific transcontinental railroad is a…
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Class I Briefs: UP, BNSF
Union Pacific (UP) racks up strong performance numbers for its grain customers. Also, BNSF encourages stakeholders to share their views with the Surface Transportation Board (STB) regarding the proposed merger…
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STB: Feedback Welcome on Review Schedule for Proposed UP+NS Merger
The Surface Transportation Board (STB) is inviting public comment on its schedule for reviewing the proposed merger of Union Pacific (UP) and Norfolk Southern (NS), which would create the first…
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Class I Briefs: BNSF, NS
BNSF provides an update on operational performance and capital expansion projects in Texas, Arizona, and California. Also, Norfolk Southern (NS) reflects on Hurricane Helene recovery efforts—one year later.
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Watch: NS Generations on the Rails
At Norfolk Southern (NS), railroading runs deep. It often spans generations of the same family. Across our network, you’ll find parents, children, grandchildren, and more who have all proudly called…
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NS Introduces Triple Crown Services, Inc.
Norfolk Southern (NS) recently announced that it has created Triple Crown Services, Inc. (TCSI), a single-source solution for motor carrier and brokerage services that “puts customers first.”
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SMART-TD Supports Proposed UP-NS Merger
Union Pacific and the International Association of Sheet Metal, Air, Rail and Transportation Workers–Transportation Division on Sept. 22 announced an agreement they said “guarantees that SMART-TD members working in train…
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Class I Briefs: UP, CSX, NS
Union Pacific’s (UP) Big Boy 4014 will make two whistle-stops in Colorado this fall. Also, CSX President and CEO Joe Hinrichs is recognized with the Champion of Change Award from…
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Watershed Moment: Unpacking the Transcon Rail Opportunity
We believe a unified Union Pacific and Norfolk Southern sees potential upside to disclosed revenue synergies as we quantify the watershed opportunity. Our analysis of more than 4,000 watershed O-D…
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NS, UP Leveraging Louisville
As Union Pacific CEO Jim Vena makes the rounds in Washington, including a visit to the Oval Office, to lobby for support of UP’s acquisition of Norfolk Southern, the intended…
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USDOJ Stops Hitting NS with Crescent Wrench
More than one year after the U.S. Justice Department filed a civil complaint in U.S. District Court in the District of Columbia alleging that Norfolk Southern “delays passenger trains on…
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For NS, Four ‘Strategic Moves’
Norfolk Southern’s Intermodal and Automotive business units recently announced upgrades to four terminals in Michigan, Ohio and Pennsylvania that support “capacity, efficiency, and customer demand.” These projects are “strategic moves”…
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Mechanical Marvel
RAILWAY AGE SEPTEMBER 2025 ISSUE: Repairing and rebuilding locomotives in Altoona, Pa., has been a blue-collar activity for a very long time, and Norfolk Southern’s Juniata Locomotive Shop—a 21st century…
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Class I Briefs: CN, Port of Montreal, NS
CN expands firefighting fleet with new assets and upgrades to existing trains. Also, the Montreal Port Authority (MPA) and DP World in Canada sign a joint development agreement for the…
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Class I Briefs: BNSF, CSX, NS
BNSF this November will launch an Oklahoma City-based intermodal facility. Also, CSX announces its 2025 Customer Environmental Excellence Award honorees and designates a new Select Site in New York; and…
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Class I Briefs: BNSF, CN, NS
BNSF provides customers with an intermodal network update. Also, CN partners with Autism Canada; and Norfolk Southern (NS) contributes $50,000 to Rebuilding Together New Orleans.
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One Merger at a Time, Please
FROM THE EDITOR, RAILWAY AGE SEPTEMBER 2025 ISSUE: As I write this, it’s the late afternoon of Friday, Aug. 29, the end of one of the strangest weeks I’ve ever…


















