On October 22, 2026, Norfolk Southern Corporation issued a press release detailing its financial performance for the third quarter of 2026. The filing confirms that the company achieved record quarterly revenues and reported strong earnings growth compared to the prior year.
For the third quarter of 2026, the company reported railway operating revenues of $3.5 billion. This figure represents an increase of $423 million, or 14%, compared to the third quarter of 2025. The company attributes this growth to a 3% increase in volume and higher fuel surcharges, which accounted for eight percentage points of the revenue increase.
Income from railway operations for the quarter was $1.2 billion, an increase of $52 million, or 5%, compared to the same period in 2025. The company also reported diluted earnings per share of $3.37, an increase of $0.21, or 7%, compared to the third quarter of 2025.
However, the company noted that its operating ratio for the third quarter of 2026 was 67.4%, which is 210 basis points higher than the adjusted operating ratio of 65.4% for the third quarter of 2025. The company attributes the widening ratio to higher fuel costs and the effects of the Eastern Ohio incident.
When adjusting for merger-related expenses and the effects of the Eastern Ohio incident, the company reported adjusted income from railway operations of $1.2 billion, adjusted diluted earnings per share of $3.62, and an adjusted operating ratio of 65.4%.
