Norfolk Southern Q3 revenue hits record $3.5 billion, EPS up 7% to $3.37
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.
Key points
- 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
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 7, 2026, 11:17 PM ET, from the text of the filing and its press-release exhibits only.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.