Oct 22, 8:20 AM ET
Norfolk Southern reported third-quarter 2026 results with railway operating revenues of $3.5 billion, a quarterly record and up 14% from a year earlier. Diluted earnings per share were $3.37, up 7%, but the operating ratio worsened to 67.4% from 64.6%, so higher costs absorbed part of the revenue gain. Shareholders should note that the company's adjusted figures exclude merger-related expenses and effects of the Eastern Ohio incident.
- Railway operating revenues were $3.5 billion, up $423 million or 14%, with volume up 3% and higher fuel surcharges adding eight points of growth
- Diluted EPS were $3.37, up $0.21 or 7%; adjusted diluted EPS were $3.62, up $0.32 or 10%
- Income from railway operations was $1.2 billion, up $52 million or 5%; fuel expense rose to $420 million from $237 million
- Operating ratio was 67.4% versus 64.6% a year earlier; adjusted operating ratio was 65.4%, 210 basis points higher than adjusted third quarter 2025
Read the filing on SEC.gov ↗
Jul 23, 8:20 AM ET
Norfolk Southern reported second-quarter 2026 railway operating revenue of $3.5 billion, an all-time quarterly record and up 11% from a year earlier. GAAP diluted earnings per share fell 4% to $3.26, while adjusted EPS rose 7% to $3.52 after excluding merger-related expenses, restructuring charges and Eastern Ohio incident effects. The company also raised its 2026 adjusted operating expense guidance to $8.8 to $8.9 billion, citing higher estimated incremental fuel expense.
- Revenue of $3.5 billion rose $355 million, or 11%, on a 4% volume increase and higher fuel surcharges.
- GAAP income from railway operations was $1.1 billion, down $51 million, or 4%; the GAAP operating ratio was 67.6% versus 62.2%.
- Adjusted diluted EPS was $3.52, up $0.23, or 7%; adjusted operating ratio was 65.5%, 210 basis points higher year over year.
- 2026 adjusted operating expense guidance was updated to $8.8 to $8.9 billion for higher estimated incremental fuel expense.
Read the filing on SEC.gov ↗
Jun 1, 9:15 AM ET
Norfolk Southern's Chief Operating Officer, John Orr, resigned for good reason effective May 31, 2026, citing proposed operational changes that would reduce his duties. Vice President and Chief Mechanical Officer Brian Barr was appointed COO effective June 1, 2026, while Orr stays on as a special advisor to the Board Chair until he retires on July 1, 2026. The change occurs while the company's merger agreement with Union Pacific is pending, and Orr's advisory role runs until that merger closes or June 1, 2027.
- Orr's resignation took effect May 31, 2026; he is employed as a special advisor through June 30, 2026 and retires July 1, 2026.
- Orr will receive the remaining balance of his $2,250,000 retention bonus in a lump sum within 30 days after the Union Pacific merger closes.
- Barr, age 47, receives a $600,000 annual base salary and an incentive opportunity equal to 130% of salary, prorated for 2026.
- Barr's total retention bonus was increased to $2 million, with remaining $600,000 installments vesting in January 2027.
Read the filing on SEC.gov ↗
Apr 24, 8:05 AM ET
Norfolk Southern reported first-quarter 2026 results on April 24, 2026. Reported diluted earnings per share fell 27% to $2.43, and income from railway operations fell 23% to $877 million, reflecting a $185 million Eastern Ohio incident recovery in the prior-year quarter and $52 million in merger-related expenses. Excluding those items, adjusted EPS was $2.65, down 1%, and revenue was flat at $3.0 billion.
- Railway operating revenues were $3.0 billion, up $5 million, or flat, on a 1% volume decline.
- Income from railway operations was $877 million, down $269 million, or 23%; operating ratio was 70.7% versus 61.7% a year earlier.
- Diluted EPS was $2.43 versus $3.31 in the first quarter of 2025; adjusted diluted EPS was $2.65 versus $2.69.
- The company did not repurchase any shares in the first quarter of 2026, compared with $250 million of repurchases in the same period of 2025.
Read the filing on SEC.gov ↗
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.
