Norfolk Southern (NYSE: NSC) is expected to report Q2 earnings on July 23. Here's what Wall Street wants to see:

The 10-second takeaway
Comparing the upcoming quarter to the prior-year quarter, average analyst estimates predict Norfolk Southern's revenues will compress -0.9% and EPS will wither -6.3%.

The average estimate for revenue is $2.85 billion. On the bottom line, the average EPS estimate is $1.50.

Revenue details
Last quarter, Norfolk Southern tallied revenue of $2.74 billion. GAAP reported sales were 1.8% lower than the prior-year quarter's $2.79 billion.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
Last quarter, non-GAAP EPS came in at $1.22. GAAP EPS of $1.41 for Q1 were 15% higher than the prior-year quarter's $1.23 per share.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Recent performance
For the preceding quarter, gross margin was 33.5%, 120 basis points worse than the prior-year quarter. Operating margin was 25.2%, 150 basis points worse than the prior-year quarter. Net margin was 16.4%, 170 basis points better than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $11.24 billion. The average EPS estimate is $5.60.

Investor sentiment
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 1,228 members out of 1,259 rating the stock outperform, and 31 members rating it underperform. Among 340 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 336 give Norfolk Southern a green thumbs-up, and four give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Norfolk Southern is outperform, with an average price target of $77.46.

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