Form 10-Q · Quarterly report
Norfolk Southern 10-Q, filed Jul 23, 2026
- Filed
- CIK
- 0000702165
- Accession no.
- 0001628280-26-049326
Summary
Norfolk Southern reported second-quarter 2026 railway operating revenues of $3.465 billion, up 11% year over year, but net income fell 4% to $734 million ($3.26 per diluted share) on higher fuel prices, the absence of prior-year insurance recoveries tied to the Eastern Ohio incident, and merger-related expenses; adjusted earnings per share rose 7% to $3.52. The company said it entered a merger agreement with Union Pacific on July 28, 2025 that it describes as a step toward creating America's first transcontinental railroad.
Key points
- Second-quarter 2026 railway operating revenues were $3.465 billion, up 11% from $3.110 billion a year earlier, while net income fell 4% to $734 million and diluted EPS fell 4% to $3.26.
- Adjusted (non-GAAP) second-quarter net income rose 7% to $793 million and adjusted diluted EPS rose 7% to $3.52, with an adjusted operating ratio of 65.5% versus 63.4%.
- Intermodal revenue rose 22% on 5% higher volume, chemicals revenue rose 18%, and coal revenue rose 7%; fuel surcharge revenue was $415 million versus $203 million in the prior-year quarter.
- Norfolk Southern entered a merger agreement with Union Pacific on July 28, 2025, which it describes as a step toward America's first transcontinental railroad.
Written by an AI model from the filing text. It can be incomplete or wrong; the filing on SEC.gov is the record.
From the filing
Item 2. Management’s Discussion OVERVIEW Since 1827, Norfolk Southern Corporation and its predecessor companies have safely moved the goods and materials that drive the U.S. economy. Our dedicated team members deliver a wide variety of commodities annually for our customers, from agriculture to consumer products, and help them reduce carbon emissions by shipping via rail. We have the most extensive intermodal network in the eastern U.S. Our network serves a majority of the country's population and manufacturing base, with connections to every major container port on the Atlantic coast as well as major ports in the Gulf Coast and Great Lakes. …
An excerpt of the text as filed with the SEC, cut for length.
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