| Metric | Value ($ M) | Q1 FY26 | Q2 FY25 |
|---|---|---|---|
| Revenue | 3.5K | 15.6% | 11.4% |
| Total Income | 3.5K | 15.6% | 11.4% |
| Expenditure | 2.3K | 10.4% | 21.0% |
| PBT | 959.00 | 34.1% | 3.9% |
| Net Profit | 734.00 | 34.2% | 4.4% |
| OPM | 32.44% | 3.19pp | 5.34pp |
| NPM | 21.18% | 2.94pp | 3.51pp |
| EPS | 3.26 | 34.2% | 4.4% |
Norfolk Southern Reports Record Quarterly Revenues for Q2 2026
23 Jul 2026 · 23 Jul, 5:56 pm
Summary
Norfolk Southern reported record quarterly revenues of $3.5 billion for the second quarter of 2026, an 11% increase year-over-year, driven by an 11% volume increase and higher fuel surcharges. Adjusted income from railway operations rose 5% to $1.2 billion, and adjusted diluted earnings per share increased by 7% to $3.52 compared to the prior year's second quarter. The company also updated its 2026 adjusted operating expense guidance range to $8.8 to $8.9 billion. Management highlighted strong performance and exceeding expectations due to improved demand across key markets.
Key Highlights
- 1
Norfolk Southern achieved record quarterly revenues of $3.5 billion in the second quarter of 2026.
- 2
Second quarter revenue was up 11% compared to the second quarter of 2025, driven by an 11% increase in volume and higher fuel surcharges.
- 3
Adjusted income from railway operations was $1.2 billion, an increase of 5% compared to the adjusted second quarter of 2025.
- 4
Adjusted diluted earnings per share were $3.52, up 7% compared to the adjusted second quarter of 2025.
- 5
The operating ratio for second quarter 2026 was 67.6%, or 65.5% on an adjusted basis.
- 6
The company updated its 2026 adjusted operating expense guidance range to $8.8 to $8.9 billion.
Management Comments
Mark George
Norfolk Southern delivered a strong second quarter, exceeding our expectations as demand improved across key markets. 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. As we look to the second half of the year, our priorities remain clear: operating a safe, reliable railroad, providing high-quality, consistent service for our customers, and executing with discipline to capitalize on emerging opportunities. With encouraging demand trends, we are well positioned to create value for our customers, shareholders, and the communities we serve.
Informational and educational content only. Not investment advice.