Quarterly ResultJul 23, 2026, 08:26 AM
Norfolk Southern Q2 Revenue $3.5B; EPS $3.26; Record Quarterly Revenue
AI Summary
Norfolk Southern reported record second-quarter 2026 revenues of $3.5 billion, an 11% increase year-over-year. Diluted earnings per share were $3.26, down 4% from Q2 2025. Adjusted diluted EPS rose 7% to $3.52, excluding merger-related expenses and the Eastern Ohio incident. The company also updated its 2026 adjusted operating expense guidance range to $8.8 to $8.9 billion due to increased estimated incremental fuel expense.
Key Highlights
- Q2 2026 Railway operating revenues: $3.5 billion, up 11% year-over-year, an all-time quarterly record.
- Q2 2026 Diluted earnings per share (GAAP): $3.26, down 4% compared to Q2 2025.
- Q2 2026 Adjusted diluted earnings per share: $3.52, up 7% compared to adjusted Q2 2025.
- Q2 2026 Income from railway operations (GAAP): $1.1 billion, a decrease of 4% year-over-year.
- Q2 2026 Adjusted operating ratio: 65.5%, 210 basis points higher than adjusted Q2 2025.
- Updated 2026 adjusted operating expense guidance range to $8.8 to $8.9 billion.
- Merchandise revenue for Q2 2026 was $2,133 million, Intermodal was $908 million.
- No common stock repurchases in the first six months of 2026.
Price Impact
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