| Metric | Value ($ M) | Q2 FY26 | Q3 FY25 |
|---|---|---|---|
| Revenue | 3.5K | 1.8% | 13.6% |
| Total Income | 3.5K | 1.8% | 13.6% |
| Expenditure | 2.4K | 1.5% | 18.5% |
| PBT | 987.00 | 2.9% | 6.8% |
| Net Profit | 759.00 | 3.4% | 6.8% |
| OPM | 32.62% | 0.18pp | 2.77pp |
| NPM | 21.53% | 0.34pp | 1.39pp |
| EPS | 3.38 | 3.7% | 7.0% |
Norfolk Southern Reports Q3 2026 Record Revenues and Strong Earnings Growth
22 Oct 2026 · 2d ago, 5:51 pm
Summary
Norfolk Southern announced record third quarter 2026 revenues of $3.5 billion, marking a 14% increase year-over-year. The company reported income from railway operations of $1.2 billion, a 5% increase from the prior year. Adjusted diluted earnings per share saw a significant 10% rise to $3.62. While the operating ratio was 67.4% compared to 64.6% in Q3 2025, management highlighted strong earnings growth driven by productivity gains and a favorable demand environment.
Key Highlights
- 1
Norfolk Southern reported record third quarter 2026 revenues of $3.5 billion, an increase of $423 million, or 14%, compared to the third quarter of 2025.
- 2
Income from railway operations for the third quarter of 2026 was $1.2 billion, an increase of $52 million, or 5%, compared to the third quarter of 2025.
- 3
Adjusted diluted earnings per share were $3.62 for the third quarter of 2026, up $0.32, or 10%, compared to adjusted third quarter 2025.
- 4
The operating ratio for the third quarter of 2026 was 67.4%, compared to 64.6% in the third quarter of 2025.
- 5
Adjusted income from railway operations increased by $82 million, or 7%, to $1.2 billion in the third quarter of 2026 compared to the prior year's adjusted results.
- 6
Diluted earnings per share were $3.37 for the third quarter of 2026, an increase of $0.21, or 7%, compared to the third quarter of 2025.
Management Comments
Mark George
Norfolk Southern delivered another quarter of solid execution, with record revenues, and strong earnings growth aided by continued productivity gains across the network, reflecting continued momentum in our business and the dedication of our team. Throughout the quarter, we remained focused on safely serving customers, improving operational performance, while maintaining disciplined cost control despite rising fuel costs. Demand for rail service increased during the quarter, as a tighter trucking market highlighted rail's competitive advantages and underscored the opportunity for a more efficient, capacity-enhanced freight network. We remain focused on investing in a stronger, more resilient rail network that can support growth we see on the horizon.”
Informational and educational content only. Not investment advice.