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7/23/2026
Norfolk Southern Corp. today reported second-quarter 2026 revenue of $3.5 billion, up 11%, or $355 million, from Q2 2025 and an all-time quarterly high.
Income from railway operations in the quarter was $1.1 billion, down 4%, or $51 million, from the same period a year ago. Diluted earnings per share was $3.26, down 4%, or 15 cents; and the operating ratio (OR) in the quarter was 67.6, compared to 62.2 in Q2 2025.
Adjusted to exclude merger-related expenses, restructuring and other charges, and the effects of the 2023 East Palestine, Ohio, train derailment, Q2 2026 income from railway operations was $1.2 billion, an increase of 5%, or $58 million. Adjusted diluted earnings per share were $3.52, up 7%, or 23 cents; and the adjusted OR was 65.5, 210 basis points higher than the adjusted OR in Q2 2025, NS officials said in a press release.
"Norfolk Southern delivered a strong second quarter, exceeding our expectations as demand improved across key markets," said NS President and CEO Mark George. "Our team adapted to a dynamic operating environment with focus and an unwavering commitment to safety. The progress we achieved reflects the dedication of our railroaders and the strength of our franchise."