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
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From Norfolk Southern's 10-Q and 10-K filings (SEC XBRL). YoY compares each quarter with the same quarter a year earlier; it is blank when the year-ago figure is missing or negative.
Annual results
Fiscal year
Revenue
Growth
EPS (diluted)
Growth
Net margin
FY2025
$12.18B
+0.5%
$12.75
+10.2%
23.6%
FY2024
$12.12B
-0.3%
$11.57
+44.3%
21.6%
FY2023
$12.16B
-4.6%
$8.02
-42.2%
15.0%
FY2022
$12.74B
+14.4%
$13.88
+14.6%
25.7%
FY2021
$11.14B
+13.8%
$12.11
+54.5%
27.0%
Frequently asked questions
When is Norfolk Southern's next earnings date?
Norfolk Southern has not announced a report date within the next three weeks. US companies usually report three to six weeks after each quarter ends; this page updates as soon as the date is on the calendar.
What did Norfolk Southern earn last quarter?
For the quarter ended Sep 2026, Norfolk Southern reported diluted EPS of $3.37 (+6.6% year over year) on revenue of $3.53B (+13.6%).
Where do these numbers come from?
Reported revenue, net income and EPS come from the company's own 10-Q and 10-K filings with the SEC (XBRL data). The report date and consensus estimate come from the Nasdaq earnings calendar.
Not investment advice. Figures can be restated by the company in later filings.